Whether you are toying with the idea of starting a home-based business, or you are already in the business of ‘small business,’ there are myriad potential deceptions endeavoring to prey on your aspirations to achieve financial independence and success.
It is critical that you beware a seller who refuses to readily disclose the important background information necessary to your making an informed buying decision. Also, as a general rule always have a lawyer on your team to review the fine print for any hidden problems, issues and requirements presented by the documentation involved with any transaction.
Once your business entity is in place and is operating, your real diligence only begins as potential scammers are lurking ready to seize their opportunity. For hopefully better (than worse), your business and significant personal information is now public. While a public presence in the marketplace is imperative to generating revenue, it’s that same visibility that can make you a target. Scams often take the form of phony ‘government’ agencies and advertisers misrepresenting both themselves and their offers. Follow the golden rule: Do not respond to unsolicited correspondence arrives in the mail, electronically, or via the phone, requesting any kind of fee or compensation. Also, follow your instincts and report any fraudulent behavior to the Better Business Bureau (chances are, you will not be the first one to have filed a complaint against an offending company).