You’ve worked hard to build your small business and invested your personal funds. You’ve hired and trained your staff, created your website and social media strategy, set up your bank accounts and lines of credit, selected your suppliers and product lines and applied for your business credit card(s). Your customers are not the only people excited. Welcome to the world of scamming small businesses.
Fraud, scams and other illegal practices cost small businesses millions of dollars every year. But small-business owners can take some simple steps to protect themselves and their companies.
Here are four common small-business scams to look out for:
With all the challenges that you face within your business, protecting against scammers may not be a high priority on your daily list. Look for the signs that scammers are testing you. Scammers try to build trust and create a sense of urgency that you must take action quickly. Most of all, scammers will look for credit card or wire transfer payments.
There’s a lot at stake in running a business – your family and employees are depending on you. Spend 15 minutes every day improving your business firewall to prevent fraud. That firewall includes your employees and your technology. Protect what you and your team have created! It will be the best investment of time you could spend, and your entire team will be part of something special.