The U. S. Department of Commerce reports that small businesses are 35 times more likely to become targets of criminal activity than businesses with revenues over $5 million. That includes most of us small business owners.
The old adage. “People don’t plan to fail, they fail to plan” certainly holds true when it comes to small business success. The failure rate for new business ventures seems to be around 70% to 80% in the first year and only about one-half of those who survive the first year will remain in business the next five years. (Small Business Association).
A major factor in small business failures is owners fail to establish sound, working policies and programs designed to protect their assets. Failure to properly address the threat of crimes against your business may very well set you up for failure. In my consulting practice, I collaborate with small retailers who often are not big enough to hire their own in-house loss prevention or security staff. One of the topics that most always comes to the forefront is employee theft. Read the entire article.