Spending on Security

The need to protect assets and operations from the growing wave of violence and crime is pushing up the costs of security companies.

Monday, June 8, 2009

Costa Rica suffered losses of more than 13 million in the commercial sector due to criminal acts, and it spent $110 million during the same year on private security.

Among the options that companies are considering to diminish or improve the efficiency of expenditures on security, the implementation of technology through surveillance cameras and electronic detection is highlighted.

With sources in security companies, the article in Elfinancierocr.com, suggested the following measures to reduce and optimize spending on security:
"1 - Negotiate: Talk to the security provider. A new arrangement could avoid cancellation of the contract.
2 - Option: Consider electronic devices such as cameras, access controls and motion sensors.
3 - Analyze: Conduct security studies, it could be that you have a service in places where you don’t need it."

More on this topic

The Business of Armour Plating Cars

August 2015

Insecurity has meant an increase n the number of firms in the industry, and now they are focusing not only on the segment with the highest purchasing power, but on a new growing market consisting of traders and business managers.

Between $12 thousand and $40 thousand is the cost of amour plating a car in El Salvador, where growing insecurity has resulted in the emergence of a new market segment.

Costa Rica: Growth in Private Security Spending

June 2011

Firms spent $174 million in security for their businesses in 2009, however in 2010 the expenditure amounted to $190 million.

A study by the Costa Rican Chamber of Commerce reveals that 42% of those surveyed said they had been a victim of violence.

"... We are convinced that the government has not fulfilled its part, ...

Insecurity Costing Us More and More

May 2010

Paying for armed custody, satellite tracking and “tolls” to armed gangs are some of the additional costs that must be paid when transporting goods in Central America.

Some transportation companies state that $14.000 must be paid each year in security related costs for a single truck carrying goods within the Central American region.

Increased Security Costs in Guatemala

October 2011

Over the last three years the percentage of budgets that must be spent on security companies has increased from 8% to 12%, and are now starting to include expenses for extortion.

The findings are based on the latest business survey conducted by the Association for Research and Social Studies (ASIES).

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