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How small firms can afford physical security costs

When it comes to safeguarding businesses, the spotlight is rarely shone on physical security. Protecting staff, properties, inventory and system is vitally important, but this comes at a cost. How can small firms afford the security they need?

While small business cybersecurity and the need to beef up protection regularly makes the headlines, the topic of small firm physical security is seldom discussed. Requirements vary from sector to sector and business to business, but every firm has some form of physical security needs.

Physical security can take the form of fencing and access control, surveillance cameras, alarm systems, security guards, lockable cabinets and safes, or secure server rooms. These kinds of measures help protect staff and assets against opportunistic and planned attacks, such as theft, assaults and burglaries.

What are the physical crimes small firms must protect against?

According to the latest Commercial Victimisation Survey, almost 40% of business premises in England and Wales were victims of crime between April 2020 and March 2021. The most common type of crime was theft (27%), followed assaults or threats and burglary.

Given the potential personal and financial impact of physical attacks, small businesses can’t afford to compromise on protection. However, given the current pressure on margins and cashflow, and the uncertainty surrounding the country’s economic direction, finding the capital to invest in physical security measures is hugely challenging for small firms.

Physical security planning and how alternative finance can help

How can small firms afford to invest in physical security planning and systems? Alternative finance can help.

In the wake of prolonged caution from traditional lenders, which is an issue that has returned during the pandemic and amid challenging market conditions in 2022, services such as invoice finance, asset finance and peer-to-peer lending are proving a vital source of capital for small businesses.

These facilities, which offer a more easily accessible and personalised approach to lending, are helping small businesses survive and target recovery, stability and growth. Notably, alternative lending played a prominent role in the government’s headline emergency support schemes, including the Recovery Loan Scheme. This profile has helped cement the reputation of alternative finance in the business sector.

Physical security investment and small firm finance options

While cyber-security is necessarily a key focus small businesses given the threat cyber-criminals pose, it is important that these firms also have the right physical security planning and systems in place. A failure to do so can have a very significant cost. With access to capital critical, it is vital that small business owners are aware of all the finance options available to them, including the services of alternative lenders.

To find out more about A&T Business Associates services, contact Steve Bowles on 01903 602211 or steve.bowles@atbusinessassociates.co.uk.

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