Crime against business putting growth at risk

Decisive action is needed to tackle the 'hidden threat' of crime against businesses damaging growth, according to the British Chambers of Commerce (BCC). 

Theft, fraud, scams and cyber-attacks are increasingly affecting firms of all sizes and across all sectors, BCC research has found. 

The business group's research shows that 42% of UK businesses experienced some form of crime in the past year. 

The data reveals larger firms are more vulnerable, increasing from 32% among micro-businesses to 58% among firms employing more than 250 people. The manufacturing sector is the hardest hit, with 50% of firms reporting business crime. 

The BCC report concludes that business crime is a 'structural constraint' and 'measurable brake' on UK economic performance. 

The BCC is calling for a National Business Crime Strategic Assessment to properly measure the economic harm caused by crime against businesses. 

It is also asking for a single cyber-attack reporting system for firms and the creation of Regional Business Crime Hubs. 

Ellis Shelton, Policy Manager at the BCC, said: 'Crime against business is now a serious barrier to growth and investment across the UK. 

'Our research shows many firms are dealing with rising levels of theft, fraud and cyber-attacks. Bosses are being forced to divert crucial time and money to tackling this anchor on growth. 

'Crime is becoming more sophisticated and there needs to be a step change in the support businesses can count on. 

'Reducing crime against business isn't just about protecting balance sheets. It's about removing structural barriers to growth.'

Internet link: BCC