Break-ins and thefts pose significant challenges to small businesses, regardless of the security in place.
According to a survey from 2022 by the U.S. Chamber of Commerce, the retail sector is notably affected, with more than half of small businesses experiencing shoplifting incidents.
These challenges extend beyond retail, affecting various other sectors as well.
Small business owners are encouraged to have a strategy ready to mitigate the impact when such unfortunate events occur.
When Frostbeard Studio in Minneapolis was targeted in 2016, it highlighted the vulnerabilities small businesses face.
Despite insurance covering the losses, the emotional toll and disruption were palpable.
Equipment and supplies were stolen, while entry methods resulted in damaged locks and doors.
This situation showcases how, beyond financial losses, the sense of safety and security that business owners and employees value can be threatened.
For businesses facing a theft or break-in, several steps are advisable.
Quick action in notifying law enforcement and filing a report is crucial.
Business owners should conduct a thorough inventory of stolen or damaged items once the police have concluded their initial investigation.
With the necessary documentation, including photos or receipts, filing an insurance claim becomes straightforward.
Addressing the emotional and operational impact on employees is another key aspect.
Transparent communication about the incident and detailing the measures taken to prevent future occurrences can help alleviate fear and uncertainty.
This might include upgrading security systems, like installing cameras or alarm systems, and implementing new procedures to reduce risks.
Networking within the local community can serve as an additional safety net.
Business owners, like Roxie, have found value in asking neighbors to watch for suspicious activities and collaborating with other local businesses to enhance vigilance.
Adjusting employee schedules to ensure a constant presence during business hours is another tactic that can deter potential thieves.
Rich Main, another small business owner, experienced similar challenges when his Arizona-based business was burglarized.
The loss of roughly $10,000 worth of equipment and supplies led to operational downtime, revealing gaps in his insurance coverage.
His experience underscores the importance of regularly reviewing and updating insurance policies to ensure they provide adequate protection.
State regulations might offer some relief for small business owners.
Exploring government aid, such as tax credits, can ease the financial burden of beefing up security measures.
For instance, New York’s upcoming budget includes significant tax credits for small businesses investing in security enhancements.
Such benefits are intended to encourage businesses to proactively address vulnerabilities before a break-in occurs again.
