New research released by commercial insurer RSA reveals that yob culture is an increasing issue for British commercial property businesses, causing losses of £9.8 billion last year alone. According to the study the cost of yob culture to London commercial property businesses has promoted around one in three commercial property companies to consider relocating.
The study examined the effect of yob culture on UK commercial property businesses in 2011, including incidents such as broken windows and doors, petty theft, littering, graffiti and intimidation or harassment. Furthermore it looked at the anticipated impact of yob culture in the UK this year.
The problem is particularly damaging to commercial property SMEs, with over 18 per cent of SMEs affected by yob culture in 2011. This converted to an average cost of £14,500 for each affected SME commercial property business.
Broken doors and windows and petty theft were said to be the two most common forms of yob behaviour experienced, followed closely by graffiti, affecting as many as half of all commercial property businesses surveyed. While yob culture affects all sizes and types of commercial property business, there are significant differences in the scale of its impact. The capital’s commercial property companies believe the bill for this form of behaviour will virtually treble this year to hit an average of £51,369,65.
Looking at 2012, 37 per cent of commercial property businesses say they expect yob culture to rise as a result of on-going economic volatility, and employers expect it to cost them more year-on-year at £26,000 on average-a clear sign that Britain’s yob culture is a rising problem.
Commenting on the findings, Jon Hancock, Managing Director at RSA, said: “This research shows that Britain’s yob culture is having a tangible and negative impact on British businesses up and down the country. Whether it’s petty theft, broken windows, intimidation and harassment or graffiti, honest businesses of all sizes and types right across the country are footing the bill for what is socially unacceptable behaviour.”
He further added: “The importance of businesses preparing for the risks they face and having the right level of protection in place should not be underestimated. This research shows that UK businesses expect yob culture to cost them more this year, so I would encourage all employers to carefully consider how they can protect themselves in order to safeguard the future welfare of their business.”
The research found stark differences between particular sectors. In 2011, Engineering and Utilities companies were most likely to be affected; nevertheless the cost to business was highest in the Construction industry (£66,000 per business) and transport industry (£53,000).
This year, commercial property businesses anticipating the largest bills are Utilities at £65,000, Finance and Business Services at £52,000 and Construction at £40,000.
Looking at the eleven UK regions surveyed, commercial property businesses in Scotland were most likely to be affected by yob culture in 2011 at 48 per cent, however the average commercial property company in the West Midlands was required to pay nearly £80,000 due to criminal damage and related issues, while commercial property businesses in the East Midlands were faced with more than £64,000 of damage.
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