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How To Tell If A Business Opportunity Is Legitimate

Aug 17, 2007
There are so many different business opportunities available today; it can be difficult telling the legitimate opportunities from the scams. However, there are many organizations that will help you choose a business that best fits your personality, character, goals, and even your budget as well as stay clear from scams. Whether you are looking to work from home, start your own business, build a franchise, or even start a vending route choosing a business opportunity shouldn't be confusing or leave you feeling that you've been taken advantage of.

One of the best ways to determine if a business opportunity is legitimate or not is to do your own research. This can be performed easily and free of charge. You can run an Internet Search on a company and look for negative reports. The Better Business Bureau also maintains a database of businesses that are members of their organization. This helps ensure that a company is willing to be held accountable to the higher standards of the BBB and if a customer has a complaint, all actions filed are made public. The Federal Trade Commission also offers wonderful information regarding consumer protection and is a great resource for determining if a company is fraudulent or not.

If the business opportunity is Internet based, you may find that they require a "one time only" risk free deposit. This is a red flag that you are dealing with a scam. (Purchasing a business package or product to get started is OK, just make sure you're getting your money's worth.) Also unrealistic promises are often tactics used in fraudulent business opportunities. Many of these tactics try to promise people a lot of money in a short amount of time, and with very little work. You may have heard the saying, "If something sounds too good to be true, it probably is" before, and when it comes to finding a legitimate business opportunity, this statement is key. Scams and fraudulent opportunities are designed to sound great, that they offer a huge cash return for little work, and a simple financial investment on your part.

Before joining a business opportunity, you should also research how the company's level of communication works. Do they have business addresses and phone numbers readily available to the public? Or do they have a PO Box number and no real identifying information. Knowing whom to contact in case there is a problem is crucial for the success of a legitimate business. Without having these key factors in place, you can almost guarantee that you are dealing with a scam or fraudulent company.
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