Surprising Statistics on Small Business Fraud

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Small Business Fraud in 2014

The Canadian Federation of Independent Business surveyed 100,000 members to provide some insight into small business fraud. The survey results provided some valuable observations into how small business in Canada are affected by and deal with fraud. Some of the small business fraud statistics were a little surprising.

We decided to turn the survey into a small business fraud infographic!

Small Business Fraud Infographic

 

Remember, effective procurement processes – even for small businesses – help to reduce fraud by enforcing spend management best practices, increasing spend visibility, and ensuring that each purchase travels through the proper approval channels. Using e-procurement software such as Procurify makes implementing a procurement process (almost) as easy as installing an app on your phone.

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About Author

Matt Lim has spent the majority of his life between British Columbia and California, where he graduated from U.C. Irvine with a degree in Economics. Matt is currently writing about business operations, best purchasing practices, and optimizing the individual & workplace.

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