Small businesses see crime jump in past year. What can stop the rise?
Global News
Nearly half of Canadian small businesses reported being directly impacted by criminal activity, ranging from vandalism and break-ins to harassment, according to new data.
Canada’s small businesses are warning change is needed to tackle crime as a new report finds almost half report having had a direct experience of criminal activity.
The report by the Canadian Federation of Independent Business (CFIB), released Thursday, showed 45 per cent reporting being directly impacted by crime and community safety issues this past year, ranging from vandalism to litter like drug paraphernalia.
That’s up from 24 per cent who said the same last year.
Among the biggest concerns were vandalism and breaking and entering, and theft and shoplifting at 63 per cent and 60 per cent, respectively.
“Small businesses are increasingly getting worried,” SeoRhin Yoo, the CFIB’s senior policy analyst and co-author of the report, told Global News. “They’re struggling to kind of get a handle on the increase in crime that they’re seeing across Canada.”
According to the report, in the past three years small businesses reported a median cost of $5,000 spent on responding to crime, including covering losses from theft, repairs from break-ins and investments into security to better protect themselves.
The CFIB added the amount was a “conservative estimate” and did not include costs from a loss of productivity or businesses opportunities.
“It’s definitely taking a financial toll, you know, an emotional toll on a lot of the small business owners as well,” Yoo said. “It definitely is impacting them revenue-wise, just because they are seeing that customer deterrence.”