In a word: margins. The common small business faces an average robbery of at least once a year. Startling right? Even more startling is that over 75% of employees have stolen from an employer. Sadly as believable a statistic as it is. The sad part about this is that many smaller businesses set on a more humble scale take a percentage-based greater hit per capita on lost merchandise. It makes sense. Yet sadly many small businesses are non-representative of scale requiring generally more work to run effectively. These are already huge reasons why small businesses must invest in security systems.
In case you are still not convinced, read further for more insights into small business security systems.
Theft by the Numbers
As of 2021, the National Retail Federation documented that average employee theft costs 1,551.66 on average per case. While shoplifting averaged only 461.86 on the same metric. Keep in mind this is why security systems beyond just cameras are required. Stronger inventory metrics and hiring procedures are recommended as well. Another statistic cites that 14% of companies experience shoplifting cases at least once a month.
While a majority of theft occurs in the “Retail” industry, comparable numbers occur in “Professional Services” industries as well with a slight but negligible dip when coming to “Manufacturing” Fields. However, when inquiring about a list of potential businesses likely to get robbed:
- Convenient Stores
- Jewelry Stores
- Liquor Stores
- Gas Stations
They say this is likely due to their being cash on hand, alongside easy “grab-and-go” items. Alongside this, many of these find themselves in circumstances and with hours that provide additional permissibility due to lack of oversight.
This is another area where security systems may come into play. By adding lights, motion detectors, sound, and motion alerts that automatically notify authorities can help prevent or arrest any individual looking to cause harm or issue to a small, local business.
Similarly, camera features can help document any interference with merchandise that they do not already dissuade by their mere presence. This is where security serves threefold – Dissuade, Detect, and Document.
In instances where they fall through, another is there to safely pick up the weight and continue trucking along, protecting the small business. Both serve utility in robbery, petty theft, and any unwanted intrusion in between from inside or outside the workplace.
Reports and Statistics
However, the facts are not all bad statistics show that dishonest employee theft decreased in the past nine years, tallying from 71,095 reported apprehensions in 2012. Now that number is down to 26,463 as of 2021. These are documented numbers from the National Retail Federation. It is irrefutable that registering and documenting technology such as security cameras and inventory registrars had a role to play in this decreased theft statistic.
Yet, a new report cited earlier in this article states that 2022 is seeing an uptick in theft and shoplifting statistics once again. This is likely suggesting that the decrease as of 2021 was not just technology alone, but likely resulted from residual hangovers from 2020 COVID-19-related shutdowns.
In the end, it is important to understand that there are prongs of prevention with the presence of security systems. This alongside documentation help put a cap on any potentially harmful issue that may statistically arise with prevalence for any small business.