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The industry that's toughing it out

Security-firm owners the Conns say the slump could help them.

October 15, 2009 09:30
Close Circuit’s Adam and Nick Conn

ByCandice Krieger, Candice Krieger

3 min read

The recession could redefine the status of the security industry, particularly among the Jewish community, say former policemen Adam and Nick Conn.

The London-based brothers run private security firm Close Circuit. Founded in 2004, it provides security to wealthy individuals, schools, sites and events, and offers training to aspiring security professionals. Today, it is a million-pound business and the duo say they are experiencing a 30 per cent increase in inquiries on last year. The reason? People who have been made redundant — Jews among them — are turning to security as a stable job option in the recession. “There are two growth areas in the recession,” says Nick, 27, who joined Close Circuit around eight months ago to develop its training division. “One is care and the other is security.” Adam, 30, explains: “While I don’t think security, or any company, is recession-proof, people are always going to need security.

“Wealthy people still have their money and want it looked after, and unfortunately some people that have lost a lot turn to crime. Businesses can’t demand the police 24-hours-a-day, so they will use security. And a lot of construction sites are cutting back on builders, so there is the need to call in security to oversee sites. Previously, this would have been the builder’s responsibility.” He adds: “Security is an industry that will maintain a busy peak. It will stay turning over nicely.”

According to Nick, people from highly-skilled professions — legal, banking, management — are being made redundant and approaching them for training.