A business attorney can help you run your SME legally
Your business attorney in Boise and Nampa ID can help make your business less vulnerable to bad business practices. Many people hold the opinion that small and medium-sized businesses are less susceptible to fraud than giant corporations. Since the operations of these small enterprises are often carefully controlled by a large number of dependable and devoted lifelong employees on the payroll, this perception might seem logical. Sadly, that is not the case.
According to a survey by the Association of Certified Fraud Examiners (ACFE), internal theft also causes significant losses for small commercial enterprises. The following statistics demonstrate the severity of the issue and further highlight the need for an employee theft bond for all kinds of enterprises conducting business in the state of Idaho:
1. $50 billion is the amount that American employees steal from businesses each year.
2. Annual revenue lost to theft or fraud: 7%
3. 75% of employees have stolen from their employers at least once.
4. 37.5% of employees have stolen from their employer at least twice.
5. Employee theft-related business bankruptcies: 33%
6. 29% of employees admitted to stealing ideas from coworkers.
7. Deception/swindling typically goes undiscovered for two years.
The Idaho Employee Theft Bond is a reliable assurance that could shield companies from financial ruin brought on by employees who steal from them, use their property without authorization, or misuse their resources. The bond also protects employers from those who steal their trade secrets and product designs or engage in other fraudulent acts that could bring about the demise of the company.
Why you need an employee theft bond
The Idaho Employee Theft Bond is a great way to stop these particular frauds:
When fraudulent disbursements are presented with phony invoices, false corporate cheques, and fictitious employees on the payroll, they frequently succeed. While cash theft refers to taking business money after it has been registered on the company’s accounts, skimming is the act of stealing cash receipts before they are recorded on the company’s books.
Because you don’t want to risk having your reputation as a business owner damaged while offering your clients your particular style of service, you need the Idaho Employee Theft Bond. An employee theft bond is crucial because dishonest employees who steal your clients’ cash or personal items can seriously harm your company’s reputation.
Work with the best business attorney in Boise and Nampa ID
An employee theft bond can help you avoid financial losses from bad business practices. Work with the best business attorney in Boise and Nampa ID for outstanding results.
Jacobson & Jacobson Law Firm, since 1982, is committed to serving the Boise and Nampa Idaho areas for your top Criminal Defense, Personal Injury, Business Law, Estate Planning, Family Law, Immigration Law, and Litigation needs. Contact us today to get started.