Shoplifting, card fraud, email phishing and more – there are lots of risks for small business owners on the run up to Christmas. Here’s the word;
Small businesses need to be aware of the risks ahead of one of their busiest shopping weekends of the year, commercial insurer NFU Mutual has warned. NFU Mutual has sent out key advice with Small Business Saturday taking place this weekend (Saturday, December 2) as many independent shops temporarily cut prices to encourage consumers to shop within their local communities. With higher footfall comes an increased risk of trips and falls, while shoplifters may be looking to strike in smaller, busy shops. Cyber crime will also be a high priority for those with online shopping facilities.
Small Business Saturday is a grassroots campaign which focuses on success of smaller companies and encourages customers to shop in their local area. It first took place in the United States in 2010 and now also takes place in the UK on the first Saturday in December every year. It follows on a week from the Black Friday sales in the UK, where research by Finder showed that Brits were planning to spend an estimated £3bn over the course of last weekend – which included Cyber Monday. While Small Business Saturday doesn’t expect to bring in quite as much, commercial insurer NFU Mutual has urged businesses not to be complacent when it comes to the event, with more custom having the potential to contribute to a number of risks to shop owners and workers.
James Jordan, Commercial Specialist at NFU Mutual, said:
“Small Business Saturday is a brilliant chance to shine a spotlight on the smaller businesses in our communities and is a big money-making opportunity ahead of Christmas – but they shouldn’t ignore the potential issues. There are obvious risks associated with large amounts of people in shops – especially those smaller in size – so stores should develop a risk management plan to help prevent slips and trips as well as ensuring that public liability cover is sufficient.
“Shoplifting is also, unfortunately, on the rise with an NFU Mutual study finding eight in 10 retailers had experienced crime within the last six months. We would urge owners to remain vigilant over this weekend where criminals could seize the opportunity to strike while staff and management are busy.”
With many customers choosing to take advantage of deals from the comfort of their own home, cyber crime is also a growing risk, as hackers hope to access data or cause disruption.
James added: “Cyber crime can affect any business and is continually changing in nature, and plans should always be in place to handle an attack. Businesses should check whether they have adequate cover in place in the event of a cyber-attack. No matter the size of business, all should be properly prepared for every eventuality in advance of Small Business Saturday to ensure a smooth and successful event.”
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