The cost of crime is rising for Saskatoon business owners and after a recent city-wide Business Safety Survey was completed by 263 business, the Greater Saskatoon Chamber of Commerce says the results indicate some alarming information.
A majority of businesses are impacted by rising insurance premiums, security-related costs are climbing sharply, frequent encounters with vulnerable populations are occurring, widespread adoption of multiple safety measures are needed and absorption of costs and not reporting was identified.
Insurance premiums on the rise: 58 per cent of businesses indicated their insurance premiums have increased over the past 12 months, with 14 per cent facing significant increases of more than 10 per cent.
Security-related costs are climbing sharply: 85 per cent of businesses reported increases in security-related costs, with one in four experiencing hikes of more than 25 per cent. This suggests many businesses are being forced to invest more in protection measures to safeguard staff and property.
Frequent encounters with vulnerable populations: One in four businesses reported experiencing incidents associated with vulnerable populations on a weekly or more frequent basis. This is notably high considering a portion of surveyed businesses are not street-facing and may have less direct exposure to public foot traffic.
Widespread adoption of multiple safety measures: A majority of businesses are layering several strategies to deter crime and vandalism. Top-ranked measures include installing security cameras, installing security gates, bars or reinforced doors and windows, and training staff in crime prevention and de-escalation.
Absorbing costs and not reporting: The number of businesses who are choosing not to report incidents and/or property damage to their insurance companies or police was surprising. Instead, a substantial number have elected to absorb the cost(s) and address the issue(s) themselves.
The Greater Saskatoon Chamber of Commerce has submitted a formal letter this week to Mayor Cynthia Block and City Councillors highlighting the issues and are requesting the Public Policy Response needs to include measures that offset the costs of those who are greatly affected.
Jason Aebig is CEO for the Greater Saskatoon Chamber of Commerce and says Regina and British Columbia have recently approved a grant program to support businesses located in more crime-prone areas and the letter included how this would benefit Saskatoon to have the same.
Aebig says, “This is a complex problem and the impacts are widespread. A big part of this problem is being born by small and medium size businesses that do not have the capacity or resources to shoulder it on their own.”
