Business crime up as 'recession bites'

30/03/2009

Business crime is on the rise as the recession hits, according to research, which could hint that investment in new wrought iron gates is needed.

AXA's Business Crime Index shows year-on-year numbers of crimes against businesses have increased by approximately ten per cent, with the firm noting a marked rise in what it calls "recessionary crime".

Seven per cent of businesses have been targeted by crime in the last year and AXA expects this figure to rise as the recession bites.

The index also showed that the biggest crime growth areas were malicious damage (14 per cent) and arson (23 per cent).

"Both malicious damage and arson tend to go up in a recession as premises are left unoccupied and unprotected by failed businesses, making them easier targets for vandals," said Gregor Elrick, head of property at AXA.

Recent research from uSwitch.com showed that 76 per cent of small businesses expect to survive the recession.