Connacht businesses face €47k in crime costs

A new survey on how crime affects businesses has found that for 88 per cent of those impacted by criminal activity since January 2020, the cost to the business was an average of €47,000. For another 5 per cent of those companies who were the victims of crime the cost was in excess of €500,000.

Of the 50 Connacht/Ulster businesses included in the survey, 35 per cent were among the victims of crime since January 2020. This compared to, Dublin 56 per cent, Rest of Leinster 31 per cent and Munster 48 per cent.

The main concerns of the Connacht/Ulster businesses in terms of criminal activity, excluding cyber security were, burglary/robbery 67 per cent, vandalism 41 per cent and fraud 12%.

The survey also found that insurances and public liability requirements influence security arrangements for 82 per cent of Irish businesses.

The survey by Amárach Research for Netwatch was carried out to determine the type of crime, costs and the importance of security among Irish businesses.

Key among the findings is that 63 per cent of Irish businesses believe security has become more of a consideration with business interruption, health and safety and security breach ranked as the top three risks. 60 per cent report that their business now gives security management essential or high priority.