Business crime saw a 20% increase in the three months from July to September compared to the same period last year, according to figures released by Axa.

The research suggests most of this is down to increasing levels of theft, which rose by 27% in the third quarter of 2007 compared to 2006, and 45% in the second quarter.

Against this backdrop, the insurance company is warning businesses to be extra vigilant over the Christmas period.

"With many people taking holidays and some businesses closing entirely, premises will be left empty and under-staffed," said Doug Barnett, risk manager at AXA.

"We are urging business owners of all types of business to review their security precautions ahead of the festive period so they don't give criminals a Christmas present this year".