Shocking Stats on the Need for Business Security
If you own a business and you’re on the fence about investing in security because you think you can’t afford it, these shocking statistics might change your mind. And you may ask yourself this: If the risk is high and the cost of theft even higher, how can you NOT afford to secure your business?
After all, just because nothing has happened to your business yet, it doesn’t mean that it won’t. In fact, businesses are 4 times more likely than homes to be burglarized.
In the retail industry alone, 275 million incidents happen globally each year, yet only 1 in 46 arrests are made in connection with these incidents.[1]
Convenience stores have the highest rates of burglaries and robberies at 51%, but drug stores, liquor stores, dollar stores, and even restaurants have their fair share too.[2] And the number of robberies and burglaries has increased by 8.6% since 2016.
Over 60% of burglaries are by forcible entry.
Even if it’s not a forcible entry, but more of a case of shoplifting, if they hit you once, it’s likely they’ll target you again. This is especially true for franchises and retail chains. 20% of known shoplifters will visit three or more locations of the same store.
But it’s not just the retail industry that is impacted. Businesses in any industry can become victims of theft. And sadly, it’s often an inside job.
Another issue many businesses face is fraud. Did you know that companies can lose up to 5% of their revenue from this form of theft?[3]
The top five forms of business fraud include:
- Corruption schemes
- Billing schemes
- Check tampering
- Non-cash
- Skimming
Of the theft that happens in organizations, 80% of it occurs in businesses with fewer than 100 employees. Yes, small businesses tend to get the brunt of it. And of the 80%, companies with less than 25 employees are victims of more than half of this.
Besides theft, burglaries, and fraud, vandalism is another costly crime for many. The U.S. Small Business Administration has reported that one single incident of vandalism can cost a company on average $3,370.[4]
Your Company Doesn’t Have to Fall Victim to Crime
Installing a security system does involve some investment in time and resources. However, it could save you both in the long run. Business security can prevent theft and fraud and improve the image of your business as a safe venue for customers and clients to visit. Plus, it can help to reduce your risk of costly vandalism.
Let’s face it, business owners and trusted employees cannot be in all places at all times protecting both your assets and your customers. A surveillance system allows you to monitor and record activity throughout your place of business 24/7, even if you are away.
Plus, video cameras and monitoring equipment can serve as deterrents for a crime. Research indicates that visible cameras in place have an impact on whether your business will fall victim to crime.
And if a thief is determined to invade your business regardless of the cameras, they can still be scared off using the visual and audio deterrents of your security system. If that doesn’t work, authorities are notified and you’ll have video evidence to hand over to them of the crime, improving your business’s chance of recovery.
Pro-Vigil Can Help
Pro-Vigil offers the most intelligent live surveillance on the market today. We deter 97% of all intruders without having to dispatch authorities to your site. We act quickly and effectively to keep your business safe no matter what happens. Visit us online for a free quote.
[1] https://smallbiztrends.com/2013/10/surveillance-in-your-business-benefits.html
[2] https://www.d-ddaily.com/archivesdaily/D&DDaily09-13-17.htm
[3] https://www.arastl.com/2012fraud-statistics/?kbid=62548
[4] https://smallbusiness.chron.com/can-vandalism-cost-business-63820.html
