How SMEs Can Protect Themselves From Theft

Theft can have a devastating impact on businesses, especially small- to medium-sized enterprises that may not have the cash reserves to absorb the financial hit it often brings.

Those businesses are usually the ones most at risk, too. Unlike large corporations, criminals often target SMEs because they believe SMEs are less likely to have invested heavily in their security credentials — and that’s not entirely incorrect.

Taking steps now, before you’ve been the victim of a crime, is a lot easier than trying to remedy problems once you’ve been targeted. In this post, we’ll run through some relatively straightforward strategies to bolster your business’s security credentials.

Invest in Visual Deterrents

One of the simplest ways to deter criminals from targeting your business is to make it less of a target. Visual deterrents such as CCTV cameras, exterior lighting, reinforced doors, and security signage can go a long way towards deterring a criminal from moving past your business. These simple deterrents often serve as a vital first line of defence, making the difference between being subject to an attack and not.

Enhance Your Physical Security

Investing in physical security, such as advanced access systems and security guards, can go a long way to preventing crime. After all, most criminals look to simplify their crime as much as possible. Having strong physical security makes their task even more challenging, to the point where many will decide it’s not worth the effort. Plus, the best door access control systems don’t just control who can enter the premises; they’ll also tell you who was there during a security event, should one occur. If you also decide to invest in a security guard, make sure they hold a valid SIA licence to ensure full compliance.

Perform Background Checks

Nobody wants to think that their employees would steal from the business, but it has to be accepted as a possibility. One study found that some 4,500 workers were caught stealing from their employers last year — and they were only the ones who were caught.

There’s no way to eliminate the risk of internal crime, since there will always need to be an element of trust between employer and employee. With that said, there are ways to reduce the risk, and that’s to filter out candidates who might be likely to steal from you. Performing pre-employment checks can reveal valuable information that is best to know before you bring someone on board.

Double-Check Your Insurance

Taking the above steps should go a long way towards ensuring your business is as well protected against theft as possible. With that said, there are no guarantees. Even businesses with the best defences can be targeted if the criminal is determined enough.

Ensuring that your insurance fully protects your business from theft is crucial for minimising losses. Double-checking what your insurance covers (and what it doesn’t) now allows you to fill the gaps with new policies.