Futon Heaven

One of the most important, but often overlooked aspects of small business is loss prevention. Many times, small business owners do not feel that they will become a victim of vandalism, theft, or embezzlement. These are, however, very important issues for small business owners to consider. A recent study estimates that billions of dollars are lost each year by small businesses for these crimes. If you are a business owner, and are considering installing a security system, then check out our top four tips for business owners below.

1. Find a security company with a good track record: some security companies position themselves based on cost. And while cost is always of concern, it is more important to get your money’s worth. Your insurance agency should be able to give you a reference for a good security firm to ensure you make the right choice.

2. Say no to “DIY”: some business owners think it is a good idea to set up their own “security system” in order to make money. Using inexpensive web cameras and off the shelf products is not a good way to get quality results, because it turns out that this is very time intensive for business owners, who aren’t always clear about what they are looking for in their security tapes. So don’t do it yourself — instead, it will be worth a little extra to pay a company to provide security for you.

3. Location, location, location: the key to successful loss prevention is to make sure that all locations in your business are monitored by security cameras. Many small business owners err by trying to save money by setting up only one or two security cameras. However, it is important to keep in mind the fact that criminals will stop at nothing to steal from your business — if you have a small number of cameras, they will find a way to do their nasty business in camera free locations.

A wise business owner will not assume that it is only customers who will steal from them. Often it is an “insider” who will steal from you. Employees and customers alike can be kept under surveillance by using security cameras which monitor cash registers and merchandise areas. Maintaining vigilance on both customers and employees will help reduce loss.

We hope that these suggestions will help you decide on a comprehensive solution. We know that the most important goal for a small business owner is to manage costs. But don’t forget that the key to staying on top of loss prevention is implementing strong security. A little investment in security will pay dividends by saving thousands and thousands of dollars in shrinkage.

Preventing losses from theft and shoplifting can be a make or break issue for many small businesses. We have four tips for businesses pondering which security companies they should conisder. Find a company with a good track record instead of one competing strictly on cost. Don’t try to install your own security system; seek help from professionals. Make sure that the security cameras are in positions where they can monitor all of your facilities. Keep an eye on your employees and customers so they don’t steal from you. These tips can save you a great deal of money.

- Edson Buchanan