According to a new report from specialist business insurer Hiscox, 44% of SMEs are at risk of theft due to security lapses this summer.

The report found that just under half (44%) of small businesses say staff are more lax about closing windows, setting alarms and locking exit doors in the summer months of June to August, while one in five respondents (20%) have arrived at work to discover that a window or exit has been unlocked or the alarm is not set.

Hiscox have also revealed that small business owners are also failing to prioritise their security strategies. Despite high redundancy figures, almost three quarters (73%) admit that they don’t change locks and access codes to the office when staff leave the company. In addition, almost eight out of ten (78%) small businesses take no extra security precautions for employees who find themselves in the office alone.

Sam Franks, small business insurance expert at Hiscox UK, said:

“The summer months are a prime time for burglaries and it is crucial for small businesses to take all of the necessary precautions against office theft. Many of these steps are quite simple and could be as straightforward as having a procedure in place to ensure the office is fully secured at the end of each day.

“Theft can have a number of devastating consequences to a small business; not least the impact on staff productivity and the loss of income while equipment and client data are restored. Simple tricks such as backing up data and improving IT security can save a business thousands of pounds, while having the necessary insurance cover is vital should the worst happen.”

Hiscox has provided security tips to help SMEs protect their business this summer:

1. Make sure you use all your security measures every time the office is left unattended
2. Protect your business by changing access codes and removing systems access when employees leave
3. Plan for how you would do business if your office is damaged or you lost some equipment. Regularly test the plan to make sure it works
4. Take appropriate steps to protect sensitive business information, including clients’ data.