At first glance, it may seem counter-intuitive for criminals to target small businesses over large businesses. Why would a thief go after a company with fewer assets? While the allure of large sums cash may be temping for many criminals, it is usually the case that larger companies can afford to take greater precautions to protect themselves from business fraud. Small businesses, on the other hand, oftentimes have fewer resources, both financially and in terms of manpower, to fully safeguard themselves against crime. Furthermore, small business owners are much less likely than their larger counterparts to report these crimes, potentially making them more attractive targets.
A figure provided by Bolt Insurance states that over $650 million is lost annually in stolen office supplies. This number, while shocking in itself, is still only a portion of what is lost to crimes committed against small businesses in total. Between vandalism, embezzlement, cyber crime, burglaries, and shoplifting, small companies are combined losing billions of dollars a year. One of the better ways to protect your business is to keep an eye on your business credit profile for any changes. We suggest signing up for CreditSignal®*, a free product that will help keep you informed and alert you of changes in your D&B business credit report.
The infographic below shows how crime affects small businesses, and how else you can prevent these attacks on your business.
Interested in learning more?
Here are some additional articles you might find helpful:
- Business Fraud: Get Informed Before Your Business Gets Hit
- I Left My Heart in San Francisco, Along With My Credit Card Information
- Staying Alert: Tips on Preventing Business Fraud
Infographic Credit: Bolt Insurance
Display Photo Credit: Mike Mozart, Flickr
*CreditSignal only indicates that your D&B scores and ratings have changed and alerts you when your business credit file has been purchased. To view actual scores and ratings and learn about what industries are purchasing your D&B file, we recommend that you upgrade to one of our business credit monitoring or credit building solutions. Please note, due to the proprietary nature of these inquiries and inquiry requests, only the industries in which the purchasing customers reside will be revealed.