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6 Common Scams Entrepreneurs Should Avoid

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There are too many threats for small businesses right now. Read on to learn about the 6 most common scans that entrepreneurs should watch out for!

Many people think about starting their own business without actually assessing all the existing risks. It’s bad enough that the competition has never been higher for small companies. There are also many threats that young entrepreneurs face, like liability issues, inflation, physical and intellectual theft, security breaches, and so on. You can add different scams to the list as well!

It’s no surprise that people have been running scams on small businesses for years. New entrepreneurs are trusting, and they also want to please every customer to have a loyal client base. These factors can turn small companies into perfect targets for rip-offs and cons. In the last couple of years, there are also many online threats that come from the internet.

Managing your company, getting a diploma, and looking out for possible scams at the same time can be pretty challenging. This is why students often delegate their assignments to online services. You can use essay service and devote more time to your startup. Business owners constantly have to be aware of all emerging issues!

So, are you not sure that you can prevent any kind of threats from harming your company? Here are the 6 most common scams young entrepreneurs should avoid!

Insurance fraud

This is one of the oldest tricks in the book. This type of rip-off is not specific to entrepreneurship because any person can become a victim of an insurance fraud activity. For example, you own a small store, and a swindler targets your space for their illegal activity. They will fall down and pretend to suffer from minor injuries, threatening to sue you if you don’t pay.

Fake invoices for office supplies

This is a pretty popular illegal scheme that people use to get money out of your business. Usually, they target bigger companies because it’s harder to keep track of all small purchases and invoices when you have lots of employees. Here are a couple of the most popular fake invoice schemes that you should watch out for:

  • The grifter will reach out to you and remind you that it’s about time to restock your office supplies, like paper or printer toners. After that, you’ll receive an invoice for overpriced products or an order from a fake company.
  • The scammer will send some supplies to you without any order and demand payment for it, usually overpriced as well. The harassment won’t stop until entrepreneurs agree to pay the invoice.

Fake online reviews

This is one of the most obvious and easiest ways to extort money from a company, so entrepreneurs better watch out! For example, students often look for “Write my dissertation for me“. People will say that they will leave a negative review online unless they are paid. They might also demand some goods or services in exchange for a positive review. 

Phishing schemes

This is an online threat that should be part of your cybersecurity training. Usually, employees or young entrepreneurs get an email from what seems to be a legitimate sender. If you open a link from an email, you can lose your back data, personal information, credit cards, passwords, and other important stuff. Don’t open anything before confirming that this link is legit!

Fake business and investment opportunities

Of course, everybody wants to get rich quickly. Business owners will look for many investment prospects that can promote their services even more! For example, one of the most popular schemes in this field is coaching and promotion swindles. People will lure entrepreneurs with some promises of increased profits and morality boosters, only to scam them for money.

Government agency imposters

This experience can be scary for those business owners who are not familiar with this type of swindle. When somebody from the IRS or Homeland Security comes knocking on your door, you are more likely to cooperate with them. They can claim that you have some unpaid fines or owed taxes. This is no joke, especially when you have some trademarks or patents!

How can you protect your company from getting scammed?

Of course, you can’t protect yourself and your workers at all times. On the other hand, there are some guidelines that business owners can follow and stay alert for in the future! Here are a couple of tips about looking out for the most popular cons and protecting your company:

  • learn about cybersecurity and hire an expert team to deal with such threats;
  • verify all purchases and invoices;
  • have a list of checked vendors that you use regularly;
  • hold security training for your employees.

Takeaway

Now you know about the 6 most common scams that entrepreneurs have to deal with! There are hundreds of different ways of stealing money from companies, so you can’t really look out for each and every one of them. At the same time, business owners can take some steps to prevent any cons from happening in the future!

Todayville Content Team works with a wide variety of clients to develop compelling content solutions. Our experienced team develops strategic campaigns that use video and storytelling, digital advertising and social media to help our clients position and distinguish themselves in the market.

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Cannabis and Anxiety: Is it Actually a Good Match?

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It’s pretty widespread that cannabis helps relieve a wide range of physical and mental health conditions, and it has been a common way of coping with anxiety and stress for many people. However, the relationship between cannabis and anxiety is pretty complicated because of debates among experts, and it’s better to learn more about the current research on the use of cannabis for anxiety and check an overview of the potential benefits and risks.

Compounds

One of the main compounds found in cannabis is tetrahydrocannabinol (THC), which is responsible for the drug’s psychoactive effects. THC works by binding to receptors in the endocannabinoid system, which is responsible for regulating mood, pain, and other bodily functions. Studies have found that THC can help to reduce anxiety symptoms, particularly in individuals with specific forms of anxiety, such as social anxiety disorder.

On the other hand, another compound found in cannabis is cannabidiol (CBD), which does not produce psychoactive effects. CBD can also help reduce anxiety symptoms, and it has been effective in treating anxiety disorders such as generalized anxiety disorder and post-traumatic stress disorder.

There are many cannabis strains that have different content of THC and CBD, and that’s why it’s better to consult a specialist in advance and use something that’s more likely to help you cope with your mental health condition.

Other side of cannabis 

However, it is important to note that while some studies have shown that cannabis can be beneficial in reducing anxiety symptoms, others have found that it can actually worsen them. The reason for that is that the effects of cannabis can vary greatly depending on the individual and that different strains of cannabis can have different effects. Additionally, some people may be too sensitive to the psychoactive effects of THC, which can make their anxiety symptoms worse.

You should also consider that cannabis use can lead to addiction, especially among heavy users, and it can impair cognitive function, particularly memory and attention. Long-term use of cannabis may also lead to chronic bronchitis, poor lung function, and a higher risk of mental health issues such as depression and psychosis. Even though self-medicating with cannabis is getting pretty widespread, it’s recommended to talk to a medical professional to avoid struggling with side effects.

Furthermore, the legal implications of using cannabis are necessary to check in advance. While some states and countries have legalized cannabis for medical or recreational purposes, it remains outlawed in many other places. It’s essential to be aware of the cannabis regulations in your area before using it for any medical conditions to avoid having problems with the law.

Summary

Cannabis is not a universal solution when it comes to coping with anxiety symptoms. It’s better to consult a medical specialist, start with a low dosage, and work with reputable and legal sources like WestCoastSupply to order weed online and be sure that you get high-quality products. Moreover, you can check the lab test results to ensure that it is free of any harmful contaminants and that it has the right level of THC and CBD since these compounds have different effects on the body and mind. Also, it’s important to be aware of the potential risks, especially for those with a history of addiction or mental health issues.

Keep in mind that cannabis use should be part of a comprehensive treatment plan, and it should not replace traditional therapy and medication for anxiety disorders. 

 

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How To Save Money On Life Insurance in Canada

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For many people in Canada life insurance isn’t a priority in their youth. Some of these individuals only start thinking of or considering insurance after attaining a certain age, which shouldn’t be the case at all. Although you might be neutral about it, it is highly advisable to consider or even get life insurance as soon as you start your career or have dependents. Although you might be young and healthy, you never know what the future holds, which is a reason you need to think/buy life cover.

Whatever your age or income is, getting life insurance is one of the best decisions you can ever make. This will help take care of your loved ones, especially during unfortunate times of need, cushioning them for some time until they can get back on their feet. It is also worth noting that life insurance comes in different packages and can be customized to suit one’s age, financial, and lifestyle needs. However, it would help if you window-shopped and researched the best life insurance in Canada before settling for the most appropriate and affordable one that fits your unique needs. Life insurance doesn’t have to be expensive. Below are a few tips and tricks on saving money on life insurance. 

  1. Stay/Live Healthy

Make an effort to stay healthy and keep fit, and your premium costs will be much lower than anyone that doesn’t mind their health or physical fitness. This, however, entails keeping an eye on everything from the foods you eat (nutrition), leading an active lifestyle or exercising, managing stress, and getting enough sleep. Keeping your body weight in check and avoiding certain lifestyles/habits, including heavy alcohol consumption, smoking, etc., will help keep premium rates at the bare minimum. 

  1. Buy The Right Coverage

Consider buying just ‘enough’ life cover based on your health and specific needs. This is especially important at the beginning, where you can upgrade the coverage as needed. An excellent example of this is if you don’t have a family or dependents, the minimum life cover would be just OK. You can upgrade the coverage as years go by and have a family and people that look up to you. 

  1. Pay Upfront

Paying all your annual premiums upfront (in one lump sum) could also save you some money. One reason for this is that some insurance companies add service fees and other charges to each payment, making it a bit more expensive in the long run if you pay in smaller amounts or throughout the year. Be sure to look out for these charges with your preferred insurance company before paying in one lump sum. 

  1. Choose And Maintain a Term Life Policy

Term and permanent life insurance are the two most common and preferred life insurance policies. Term life insurance is designed to provide cover for a certain/determined period or specific needs. This can be in the form of years or paying for something, say college or a mortgage. It often is the most flexible and affordable, with some converting it to permanent insurance as time goes by. Permanent life insurance, on the other hand, is designed to last a lifetime and only pays benefits upon the holder’s death. Although a nice option, you could save a lot by choosing term life and then servicing it through. 

  1. Research On Different Policies/Features/Providers

Window shopping for different providers also makes it easier to compare various features and policies offered by the same. Some insurance providers will provide more features on specific policies than others. That said, you might want to focus on providers offering feature-rich policies but at an affordable rate. Comparing policies and features offered by different providers will give you the upper hand in determining the best one to buy from.

  1. Combine Policies with Your Spouse

Some insurance providers offer discounts for those that buy/combine policies with their spouses through the same company. 

  1. Add Your Child’s Insurance to Your Policy

A good number of providers and policies also allow parents to add their children’s insurance to their policy. One of the advantages of combining such is that all your kids will be insured under one policy for a unit price, saving you a lot in the long run. The kids can, however, choose to transfer the insurance to an individual policy after attaining the legal age (21). 

  1. Buy Life Insurance Early

Although you might know this, life insurance premiums cost much more for older adults than youths. This is because older adults are considered higher risk than the younger generation, a reason a youngster will pay less in life insurance premiums than their parents. Getting life insurance at a tender age could also help keep your premiums low. 

These are some of the ways you can save money on life insurance. You can also find out more about this from your preferred insurance provider.

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