Figures from the Home Office say there’s been a 40% increase in attacks on shop owners over the last two years. Alarming findings have shown how at least 230 shop workers are assaulted every day in Britain.
Life on the frontline of shop retail has become ever deadlier since government cuts decided to let go of over 20,000 police officers since 2009. Shop workers suffer a variety of assaults, ranging from stabbing to punching. Cases of looting have also been reported.
If you’re a shop/business owner reading this, you might be wondering how your business is at risk. Here’s how:
With the increase in attacks on shops and small business workers, it’s inevitable that theft follows. Instances of theft could cost shop owners as much as 1.5% of sales. This could adversely water down profit if you don’t have insurance covering your business.
Injury to staff
An attack on your business could result in severe or minor injuries being sustained by your staff. Your staff are the ones on the direct line of fire to these attacks. The risk they face to their personal safety is from angry customers, burglars and hoodlums.
If your shop/business gets attacked, it could have serious cost implications on your business finances. You’ll have to spend some money to cover the treatment of an injured employee.
Injury to customer
A customer or other third party could find themselves in the crossfire of an attack on your store. If they get injured in the process, you’ll have to bear the treatment responsibility or risk getting sued. The situation can be an unpleasant one if it does happen.
Destruction of goods
Shop owners face the risk of getting some of their products damaged during an attack on their business. With the spate of attacks on shop workers, you can’t rule out the possibility of some goods being damaged during a violent attack.
Until the ugly trend decreases, you’ll have to be worried that this remains a risk. The destruction of your goods could drive down your profit margin.
Destruction of equipment
Equipment in your store could suffer severe damage in the event of a violent attack. Most stores use technology such as computers, printers, Television, speakers and others. This equipment can be pretty expensive. Expensive or not, your equipment stands in the line of fire from the rise in violence.
As a business owner, your life and safety is also important, not just your business. Some shop owners personally work in their shops to oversee daily activities. If you’re one, it puts you on the frontline too.
An injury to you during an attack could have dire financial implications for your business – depending on the severity of the offence.
Business owners must understand that their business and shop remain at risk as long as the statistics about violent attack continue to be true. Getting insurance is an excellent way to be prepared and protected against the risks involved.