Business owners face many challenges, but money is perhaps the biggest. Many businesses are paying out more than ever, with increased utility bills and a recent increase in employer national insurance contributions. With the cost of living hitting everyone else, shoplifting is on the rise, too. Last year, shoplifting all over the UK increased by 23% and is at the highest level since 2003. So, while costs rise, businesses need good value solutions to prevent crime. We look at the benefits for those considering installing a CCTV system to help you decide if it’s right for your business.
Crime deterrent
CCTV is primarily a crime deterrent. The mere sight of security cameras deters criminals from targeting your business in the first place. In fact, according to the British Security Industry Association (BSIA), visible CCTV cameras help deter up to 67% of crimes in public and commercial areas.
Safeguarding
In addition to helping to deter crime, CCTV can help keep customers and staff safe. A Health and Safety Executive (HSE) study found that businesses using CCTV saw a 38% reduction in safety breaches. Why? When they know they are being observed, staff are naturally more careful, impacting their health and safety and that of everyone else on your premises.
Reduced need for security staff
While security staff are often essential for many businesses, CCTV does reduce the burden placed on them. By strategically placing cameras in key spots, you can deter criminals and keep your business safe. Businesses with CCTV systems can save anywhere from £15,000–£40,000 per year by reducing the need for onsite security guards (IFSEC UK).
Evidence collection
Sadly, there’s very little police can or will do for business crime victims without video evidence. With stretched resources and increases in crime, CCTV is essential if you want the evidence needed to convict shoplifters. The Home Office says that CCTV footage is used in 75% of criminal investigations in urban areas. Footage of shoplifters gives concrete evidence during prosecutions and can even be used to target repeat offenders.
Protect against employee crime
The unfortunate truth is that employee crime is more and more prevalent. According to the Retail Gazette, employee crime accounts for up to 40% of shoplifting on-premises. So, while CCTV on shop floors can help prevent customer theft, cameras covering staff rooms and warehouses can also alert you to any ongoing crime from employees.
Great Return on Investment
CCTV Systems can vary in price, but they don’t have to be a huge cost. We can work with you to determine how much or little you would need to spend for a reliable system that suits your business.
The return on investment is often more than worth the initial outlay. For example, the U.S. Small Business Administration estimates that CCTV systems provide a 250% ROI.
Cheaper insurance premiums
And the money savings don’t stop there. You can save money on insurance if you install CCTV on your premises. UK insurers like Aviva and AXA can offer 10–20% premium reductions for businesses with monitored CCTV systems.
From reducing losses from shoplifting or employee crime to deterring potential burglars from targeting your premises, there are clear and long-lasting benefits to installing CCTV systems for all types of businesses. While the initial outlay may put off small businesses already struggling with increasing costs, you’ll recoup those costs in no time and have clear evidence if any crimes do take place.
If you’re interested in a CCTV installation for your business and are based in the North West, get in touch with our team to see how we can help.
