Fraud and Small Business

Did you know that over one fourth of small business fraud is check tampering?

Because trust builds when you are in and part of a small group, there is a psychological impact on the Small Business Owner, when the fraud is discovered. In the newspaper stories there is the element of surprise, hurt and confusion over the event. In certain instances the employee has brought the company to its knees due to the theft.

As the Owner you have a responsibility to segregate the responsibilities of your employees over cash disbursements. No matter how small your business is, cash is the engine of the business and you need to make sure you are knowledgable about where your cash comes in, where it is and where it went. Too many small business owner's want to do what they do and leave the administration and bookkeeping to others. Don't do it. Set up internal controls that protect your business and all of the work that you have put into that business.