5 Scams That Plague Small Businesses

We’ve all seen the breaking news stories about the massive data breaches involving big-box retailers such as Target and Michaels. These incidents left consumers in fear, but the companies were able to absorb the losses.

Unfortunately, small businesses don’t always have the luxury of recouping massive financial losses after a breach. In severe cases, they’re forced to shut down for good.

If you’re a small business owner, here are some scams that could hurt your business:

1. Charitable causes

Problem: Donating to a charitable cause is a great way to pay it forward while receiving positive exposure for your company. Unfortunately, there are fraudsters who will take advantage of your generosity.

Spotting such tricksters can be difficult, according to the Federal Trade Commission:

Of course, crooks cover their tracks by picking names confusingly similar to reputable charities, so it’s hard for businesses to find out they’ve been had.

Once you hand over...

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