€8,700: Average cost of crime for small businesses

Small businesses are spending an average of €7,350 per annum on security against a backdrop of constant attacks from more sophisticated criminals, according to the Small Firms Association.

Publishing the results of its National Business Crime survey, the SFA said the costs incurred per single incident of crime ranged from €80 to €200,000, with the average cost being €8,728.

The survey found 48% of firms had experienced an increase in crime in the past two years, with theft of cash up notably from 24% in 2012 to 30% in 2014. Almost two in five firms reported being victims of crime in the past two years and half said they had been victims of crime on three or more occasions.