The experience of being scammed can be quite unpleasant, especially for small business owners. It can have long-lasting impacts on their businesses, affecting relationships with clients and profits. There are many different types of scams that target small businesses, such as fake invoices and unwanted merchandise. To prevent falling victim to fraudulent tactics, small business owners should stay alert and be cautious when receiving unsolicited merchandise or invoices.
One common type of scam that affects small businesses is the offer of business coaching services. While seeking coaching can be beneficial for new business owners, there are also illegitimate individuals who charge for services they do not provide or inflate fees. To ensure that you are receiving legitimate coaching services, it’s recommended to contact your local Small Business Administration regional office for assistance.
The Better Business Bureau also warns against directory scams that have been targeting businesses for years. Scammers may try to convince businesses to pay for a listing or advertisement in a fake directory or falsely claim to be associated with a legitimate one. Small businesses end up paying for something that doesn’t exist in the end. If you encounter a scam, it’s important to report it immediately by visiting ReportFraud.ftc.gov or filing a complaint with the Better Business Bureau at BBB.org/ScamTracker