New York State Governor Kathy Hochul recently proposed an allotted $5 million in tax credits to encourage NY retail businesses to upgrade their security systems. This is all a part of Hochul’s push to reduce retail crime in response to increased thefts seen across the state.
This proposed resource expansion is among other measures the governor wants to implement to combat retail crime. These measures include:
- Aggressive criminal penalties for online resellers that list stolen items
- A specialized police force to fight organized theft rings
- Funding to assist law enforcement in combating theft
- Financial assistance for district attorneys to prosecute property crime cases
What the Proposed Funding Would Mean for Businesses
The hefty $5 million in proposed tax credits are meant to “help business owners offset the costs of retail theft.” These tax credits would encourage the purchase and installation of commercial security systems.
These systems may include components such as dome or bullet security cameras, monitors, and more. If retailers invest in commercial security, the verbiage provided by the governor suggests businesses could qualify for special credits come tax season.
Who The Tax Credits Cover
Since retail businesses are seeing significant losses across New York State, proposed tax credits will apply to retail surveillance cameras.
Consumer-Grade vs Commercial Camera Systems
“Commercial security camera systems” are defined by features designed specifically for businesses rather than private homes. These often include advanced technology that produces clear, enhanced visual quality with accurate color and vibrancy. Security cameras for businesses often produce better-quality images. This allows you to discern faces, license plates, and other crucial information after incidents.
Home systems, on the other hand, are not made with the quality or consistency of business security systems. Images may become washed out or difficult to see due to elements such as glare, dust, weather conditions, or low light, to name a few. Home systems are also focused more on novelty than crime reduction and might not have the same tamper-proof qualities of business security cameras.
Understanding Common Myths About Security
Business leaders must understand the unique benefits and uses of commercial surveillance camera systems. There’s also a lot of misinformation surrounding security systems for businesses, which might lead you to purchase or lease the wrong system. This leaves business owners unable to properly discern the right devices for them. Some common myths include:
- Higher resolution automatically means better image quality
- Every business needs to capture 24/7 surveillance footage
- All security cameras have the same purpose
To read more about the different aspects and misconceptions about commercial security systems, read our article: 5 Myths About Business Security Camera Systems.
How to Choose the Right Video Surveillance Equipment
There are several aspects to consider when choosing a security system for your business. These details include:
- How many locations and angles you need to capture
- The level of definition you need to capture action, faces, license plates, etc
- Environmental factors such as weather, dust, and glare
- How resilient you need cameras to be against vandalism and other hazards
You might need an outdoor camera to observe parking lots, or indoor cameras to capture action at cash registers. These are details to iron out with a security provider to decide on the best security tools and strategy for your needs.
Choosing the wrong device or system could leave you with broken equipment due to factors like weather or device tampering. For example, if you need surveillance in a location where a camera would be lower to the ground, you run the risk of vandalism. In this case, a managed security expert might advise you to purchase a dome camera, since they are sturdy and harder to damage than bullet cameras.
With the wrong system, you might also struggle to access footage, as many systems don’t offer easy footage retrieval.
How to Find the Best Business Security Cameras
If you're looking for a provider to help you select and install security cameras to take advantage of possible tax credits, there are many factors to consider. A quality security service provider should have experience in retail surveillance. This includes understanding the ins and outs of preventing theft in retail and easily accessing video recordings.
If you have a retail business in New York State or any small business in need of surveillance equipment, click the button below to speak to a managed security expert.
