New research from finance providers Capital on Tap has given an insight into physical business crime in the UK.
It shows that alongside rising costs and economic uncertainty, physical crime continues to pose a growing challenge to businesses.
To understand the scale of the issue, Capital on Tap analysed Freedom of Information responses from police forces across England, alongside a survey of 500 UK business owners.
The resulting report explores the crimes businesses experience most often, the sectors and locations most affected, the financial impact of crime and how businesses can and are preparing for incidents.
The results showed that almost half (45%) of UK businesses said they’ve been a victim of physical crime, while nearly three-quarters (73%) of business owners believe crime against businesses is getting worse - with seven in ten fearing their own business could become a target.
Theft is the most common offence, affecting 59% of businesses that have experienced crime, followed by attempted break-ins (52%), property damage (51%) and vandalism (50%).
Retail businesses are the hardest hit by theft, with 94% reporting shoplifting, burglary or stolen stock.
Within the new research, figures also highlighted the UK’s hotspots for business crimes per 100k people. Cambridgeshire ranks as the worst-affected police force area, recording 2,804, followed by Nottinghamshire (2,403), Bedfordshire (2,171), Lincolnshire (1,966) and Dorset (1,816).
Interestingly, when adjusted for population size, the data reveals that several predominantly rural counties experience higher rates of business crime than many major metropolitan areas.
Rebecca Alford, chief financial officer at Capital on Tap, said: “While no business can eliminate the risk of crime entirely, being financially prepared can make it much easier to recover when the unexpected happens. This means making sure insurance cover reflects the true value of your business, having emergency funds available where possible, investing in preventative security measures and ensuring you have access to finance when urgent costs arise.”
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