Running a small business can be hard work.
One of the greatest risks of small cash-based businesses, according to the SAPS, is the need to deposit money on a regular basis at the bank.
They appeal to business owners to take the following tips to heart, which may help minimise the chances of robberies:
- Alternate the days and times on which you deposit cash.
- Never make your bank visits public.
- Do not openly display the money you are depositing while you are standing in the bank queue.
- Avoid carrying money bags, briefcases or openly displaying your deposit receipt book.
- It’s advisable to identify another branch nearby that you can visit to ensure that your banking pattern is not easily recognisable or detected.
- If the amount of cash you are regularly depositing is increasing as your business grows, consider using the services of a cash management company.
- Refrain from giving wages to your contract or casual labourers in full view of the public rather make use of wage accounts that can be provided by your bank.
- Refrain from driving to the bank in your company branded vehicle on a typical “pay day”.
- Consider arranging for electronic transfers of wages to your contract or casual labourers’ personal bank accounts.
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