How crime affects businesses
An estimated 800,000 businesses have applied for bankruptcy due to the effects of crime and this number is continuing to rise along with crime rates. There are several different types of crime that businesses can fall victim to. These can range from internal theft, external theft, vandalism and even cyber-crime. Each of these can affect your business in different ways and there are several security solutions available to try and prevent this.
Crime in the workplace can be combatted using a variety of methods and strategies depending on which crime sector you are targeting. Increasing the knowledge of crime and how it can affect a business is essential for the sound development of the business community.
Over half – 51% of small & medium sized businesses in the UK have been targeted by crime. This can cost the owners an average of £2625 per incident which can severely set back a business. The loss of revenue, once compromised, is extremely difficult to come back from. A business that is in debt becomes strenuous on the owner has to struggle to keep up.
Crime in the workplace can cause reduced motivation and, in turn, production amongst staff. Businesses who are targeted by crime are at risk of losing customers, this loss of customers extends to affect employees. Crime can often mean that business owners have to let go of members of staff as they can no longer afford to keep them on. Staff morale is majorly affected due to this.
Of course crime also affects the owner, usually more than it affects the customers and employees. 69% of business owners suffer emotional distress after being subject to a crime, 42% experience a loss in income and 33% have fears that they will become victim again. With all of this stress and worry placed on the owners shoulders it is not uncommon for the business to begin to deteriorate.
Another way businesses are affected by crime is through a damaged reputation. Some customers may think that the business is not secure or safe enough and will take their custom elsewhere. This can also extend to investors or possible investors. If the business becomes subject to crime it is likely that people won’t want to invest anything into that business. This also contributes to the loss in revenue and possible bankruptcy of the company.
Shoplifting is the second leading cause of inventory loss in companies behind employee theft. Minimising the effects shoplifting has is an important factor in retail safety. Each item that is lost to a shoplifter means higher profit loss. These items cost money for your store to buy that is not being put back into the company as they are stolen. This can lead to an increase in prices for the products and services you offer, as the company needs to make the money back somehow. However, increasing the prices can also lead to a drop in customers willing to buy from you. Tighter security measures in your store can help to prevent the possibility of shoplifting becoming a detrimental problem for the company.
At Associated Security Solutions we offer a wide range of security products and services to help keep your business as secure as possible. Our products include a large variety of safes, key control, access control and even vaults and strong rooms in order to help you and your business feel as secure as possible. To find out more about the products and services that we offer visit our website at www.associated-security.co.uk or call us on 0161 832 2777.
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