Swimming With Sharks
Internet scams, money from mom and dad, tax-trimmers
Surf the Web for business financing yields thousands of sources: banks, brokers, consultants and venture capitalists, to name a few. While some names are immediately recognizable and radiate integrity, most aren't--and don't. Yet the semblance of sophistication combined with ease lure unsuspecting entrepreneurs into deals that often prove costly.
"Internet financing is fraught with scams," asserts Massoud Entekhabi, a partner in the PricewaterhouseCoopers Global Technology Group in Woodland Hills, California. "A simple search produces numerous accounts of rip-offs. And the SEC [Securities and Exchange Commission] is taking an aggressive stand to combat fraud on the Net." (See last month's "Money" column for more details.)
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Get 3 months free with code zendesk
Presented by Zendesk
Entrepreneur Editors' Picks
Zooey Deschanel Embraces the Word 'Quirky' and Thinks Businesses Should Too
A Simple (But Not Easy) Guide to Achieving Almost Any Dream
Making Time to Be 'Useless' Is a Vital Part of Creating Anything Valuable
A Billionaire Who Operates More Than 2,400 Franchises Knows These Types of Franchisees Make the Most Money
How Relentless Optimism Fuels Success for Hilary Schneider, CEO of Shutterfly
The Paradox of Celebrity Tequila
Social Media Was Draining Me, So I Gave It Up. My Business Has Never Been Stronger.