Skip to content
Home » How To Protect Your Small Business From Theft?

How To Protect Your Small Business From Theft?

Protect Your Small Business From Theft

Burglary is a thorn in the flesh of every small business owner. In 2018, about 2 percent of small businesses in the United States reported various levels of burglary and theft cases. And these thefts cost these businesses between $60 and $120 billion each year.

Surprisingly, some employees could be in on it too. According to a survey by the Better Business Bureau, 80 percent of employees of small businesses would consider stealing from employers either out of vindictiveness or need.

That calls for alarm and tighter measures. Unfortunately, a true-zero business security solution is almost impossible. But here are some pointers that can guarantee your peace of mind in protecting your business from theft.

Perform a Risk Assessment:

Protect Your Small Business From Theft

Security risks are inevitable for all businesses, small and large. The type of equipment and how capital intensive they are should be a great reason to up your business security solutions game. For instance, a barber with average equipment might be okay with smart locks and a burglar-proof front door. But that may not suffice for a salon providing a luxurious level of service with an electric chair, expensive upholstery, and salon furnishings.

So, as you search Google for the many “electric barber chair for sale” results, keep in mind the additional level of security you may need. A risk assessment can provide small businesses the knowledge needed to protect risky assets and the need to up their business security systems.

Install a modern security system.

CCTVs can provide video monitoring of intruders. But installing outside cameras might not be enough to ward off a mask-wearing burglar who can easily cause damage to any security camera. In case of any break-ins, an alarm system might stop potential intruders right in their tracks. What’s even better is getting a commercial security system that gives you both video surveillance and alarm options.

Today, a modern and secure system may come with Wi-Fi and other cloud-based capabilities. This type of security system can be an excellent option for real-time intrusion detection and emergency dispatch.

Try to look out for vulnerabilities

Protect Your Small Business From Theft

Burglars capitalize on all forms of vulnerabilities to be successful with break-in attempts. As a business owner, it pays to keep your access control team circle very small. It might even be best to limit access controls to only you. Be mindful of easy access entry points to sensitive areas. The more you let in unknown people around capital-intensive assets, the less control you have over what goes out of the office when you’re not watching.

Another way to minimize vulnerabilities is to avoid DIY installation and maintenance on professionally installed security systems. Even if it’s a quick fix, it’s always advisable to use a qualified technician. Relieving ex-employees from security protocols and periodically updating your security policy can also help a great deal. As a small business owner, you can have peace of mind when all employees are on an equal footing regarding best practices for security.

Have a robust cybersecurity solution

Cybersecurity has become an area of significant concern for businesses globally. In 2018, the United States alone saw over 13,000 cybercrime incidents. According to Statista, the cases went up the following year, with the U.S accounting for 5 percent of data breaches globally. And with the COVID-19 pandemic influencing more businesses to virtualize, the situation could get worse.

Unfortunately, many small businesses tend to treat cybersecurity as a luxury rather than the necessity that it rightly is. Often, the main excuses include not knowing where to start or not thinking cybersecurity applies to their businesses. Today, almost every business can be a candidate for cyber-theft. Sending your small business’s smart lock code via Facebook to an employee can work just as much as pasting it on a public wall. Having a cyber-secure solution to protect your business can help prevent more surprising burglary incidents at your small business.