Scams targeting In Australian small business

Scams that target small businesses come in a number of forms, and can leave your business vulnerable and exposed to a variety of threats.

Scammers will often go to great lengths to convince businesses that their offer or request is legitimate. Many scams succeed because they look like the real thing or try to take advantage of a busy office environment. The best defence to protecting your business is by being aware of the most common scams targeting businesses, and knowing what to do if you're targeted by a scam.

Avoid a scam regarding grants for small business need in Australia

Consider what you need to use the funding for and how much you need before making your decision, as each grant has its own intended uses that govern how the money is to be spent. Check the eligibility requirements as well, as they are all different.

Tips to ensure your business is protected

Remember these golden rules to help protect your Australian Small business from scammers:

·     If you become aware of a scam, let other people and your industry associations know about it.

·     Keep your filing and accounting systems well organized - this will make it easier for you to detect bogus accounts and invoices.

·     Don't give out personal information or banking details to anybody you don't know and trust.

·     Make sure the business that's billing you is the one you normally deal with. Also ask for the person's name that you're speaking to and which organization they represent.

·     Don't agree to offers or deals straight away - always ask for the offer in writing and consider getting independent advice if the deal involves money, time or a long term commitment.

·     Ensure that you have clear procedures for verifying, paying and managing accounts and invoices.

·    Limit the number of people authorized to place orders or pay invoices for your business.

·    Install reputable computer protection software and a firewall, and keep   them up to date.

What to do if you become aware of, or are a victim of a scam

As a Australian Business Consultant I recommend that if you are the victim of a scam, the first step to recovering your money is to report it. Even if you spot a scam, there are Australian Government agencies you can contact for advice or to make a report. By reporting the scam to the appropriate government agency, you can help them identify scammers and warn other businesses.