Crime costs SMEs €1.5bn a year

Crime and criminal damage is costing small businesses €1.5bn annually — a figure which has increased by almost 60% in the past five years.

A new survey, conducted by small firms’ lobby group Isme, shows 70% of SMEs believe the level of crime carried out on firms is on the increase. They are now calling for tougher court sentencing and an increased garda presence.

According to the survey, the direct cost of crime against small businesses amounted to €1.455bn in the past 12 months.