Emerald Business Systems Blog


Protect Your Cash or Lose Your Business

Posted in General Business,Security by ebs4pos on January 10, 2010

It seems like every week there’s another story about a small business owner who’s been ripped off by someone they trusted with their hard earned cash. Just last week, my plumber said he was probably going to file for bankruptcy because his trusted office manager took off with $60k of the company’s funds.Red alert folks!You must have controls in place in your business to protect what you have worked so hard to achieve. Yes, it can happen to you and your business will suffer for it. Here’s proof.The Association of Certified Fraud Examiners ACFE survey conducted earlier this year reported that more than half 55.4 percent of respondents said the level of fraud has slightly or significantly increased in the previous 12 months compared to the level of fraud they investigated or observed in years prior. Additionally, about half 49.1 percent of respondents cited increased financial pressure as the biggest factor contributing to the increase in fraud, compared to increased opportunity 27.1 percent and increased rationalization 23.7 percent. There’s no time like the present to make sure you are protected.Here are six things you can do to safeguard your cash flow.

via Protect Your Cash or Lose Your Business | Small Business Trends.

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