Top 10 Scams Small Businesses Should Watch Out For


There are a variety of scams that small businesses must watch out for. Checking scams are increasingly common and happen when small business do not utilize sites like that allow them to purchase inexpensive checks. Read on to learn more about the many scams that a small business must be on the lookout for.

  1. False Grants 

Small business are always in need of start up capital. When you are offered a government grant that seems way too good to be true, that is because it usually is. Be very wary of these supposed grants.

  1. Environmental Friendliness 

Small businesses are often besieged by companies who offer to help them “go green”. Do not allow yourself to be fooled by devices that are designed to save the environment, yet do not actually serve their intended purpose.

  1. Tax Refunds 

If you open an e-mail that claims to be offering you a tax refund, this is usually a sign of a scam. While tax refunds do happen and they are wonderful, the IRS would never send out an e-mail to let you know about it, you would receive certified mail.

  1. Illegal Downloads 

In this day and age where everyone seemingly has a smartphone attached to their hand at all times, scam artists now send downloads to your mobile device aimed towards stealing your identity. Downloading any item onto your phone without knowing where it came from is unwise.

  1. Phony Seminars

There are certain seminars that are only designed towards taking your money, while not providing any information or helpful services. If you are invited to any seminar that requires a large monetary investment, be very skeptical.

  1. Improper Billing 

Any invoice that lands on your desk is not meant to be paid off immediately. When you receive a bill that does not seem to correspond with any of your regular expenses, this is typically a sign of a scam.

  1. Overcharging 

Companies will often try to overcharge small businesses, hoping that they will not notice until after their payment has already been sent out. Know how much you owe at all times.

  1. Credit Cards 

Any small business that uses credit cards while they are trying to establish themselves should be on the lookout for credit card scams. Do not reveal any card details or PIN numbers unless you are certain that you are dealing with a legitimate company.

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  1. Home Based Jobs 

Sure, working from home may seem great, but beware of those who are offering scams. Anyone who is attempting to sell you the tools you need to work from home is likely a scam artist.

  1. Account Transfers 

While there are a few exceptions, any time you are asked to transfer money to someone or from someone, there is a scam involved.

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