Cannot open backup device. Operating System error 5

Question

Below is the query that I am using to backup (create a .bak) my database.

However, whenever I run it, I always get this error message:

Answer 1

Share this folder and use UNC path, by example: \pc\backups\mydb.bak

Then You can stop share.

Not very elegant, but it resolves all permissions problems (You need to give permissions to share as well, as mentioned above)