Saturday, November 26, 2022

A Quarter of Small Businesses at Risk Without Emergency Fund

Millions of small businesses are risking it all by failing to set up an adequate emergency fund, new report shows.

A Quarter of Small Businesses at Risk Without Emergency Fund
Reasons to Create a Business Emergency Fund

What is a Business Emergency Fund, and What is it for?

HOUSTON - November 8, 2022 - (

Leading invoice funding company Charter Capital says millions of small businesses across America are shortchanging themselves and putting their companies at risk by failing to set up a proper emergency fund. Although able to address their daily needs, businesses in this situation are often unable to cope with unexpected lulls and emergencies, which can hinder long-term growth and ultimately result in closure. Full coverage of the situation can be found on "5 Practical Reasons to Build a Small Business Emergency Fund," which is now live on

The company draws on research from JP Morgan that shows one in four small businesses has less than a 13-day cash reserve buffer. Those in low-wage or labor-intensive industries often fare worse than their counterparts, as it's much harder for them to build cash reserves. Failing to create an emergency fund is especially risky, given that 82% of business failures are linked to cash flow issues, per National Federation of Independent Business (NFIB) research.

"Businesses can be perfectly able to manage day-to-day expenses and even be profitable, but still face difficulties when an emergency hits," explains Joel Rosenthal, Co-founder and Executive Manager at Charter Capital. "Even if the business can cover the emergency expense, it's often at the cost of something else, such as marketing or seizing business opportunities, which can stall growth in the long run."

Rosenthal says that small business owners in need of a quick cash injection will often accept terms that aren't in the best interests of the company to make ends meet, which adds to the burden. Not only is money immediately being funneled away from growth opportunities, but the business is then paying exorbitant fees and interest that set it back further. 

"Businesses should have three to six months of expenses set aside in an emergency fund," Rosenthal continues. "This should be separate from daily working capital, regular savings, and the business owner's personal funds."

Because it can take years to build up an adequate emergency fund, Rosenthal recommends that businesses also plan ahead and have a source of emergency funding ready. Invoice factoring, he says, is ideal because it accelerates cash flow and doesn't require ongoing payments or going into debt.

Those interested in learning more about factoring may request a complimentary quote by calling 1-877-960-1818 or visiting

About Charter Capital

Headquartered in Houston, Texas, Charter Capital has been a leading provider of flexible funding solutions for the B2B sector for more than 20 years. Competitive rates, a fast approval process, and same-day funding help businesses across various industries secure the working capital necessary to manage daily needs and grow. To learn more, visit or call 1-877-960-1818.

Contact Information:
Keith Mabe
Press Contact
[email protected]

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Original Source: A Quarter of Small Businesses at Risk Without Emergency Fund
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Facebook Marketplace, Zelle Scams Are Fastest-Growing Scams in 2022

BeenVerified's analysis of more than 165,000 phone scam complaints reveals the most common consumer phone scams as well as the fastest-growing scams of the year.

Facebook Marketplace, Zelle Scams Are Fastest-Growing Scams in 2022

BeenVerified logo

NEW YORK - November 23, 2022 - (

Received a text or call this year claiming there was a problem with an Amazon order? Or how about claims of fraudulent activity on an online account? Scammers have taken on new tactics and strategies to target consumers this year, and while business imposter scams remain the No.1 phone or text scam in America, other scams have quickly entered the scene, according to the latest analysis from BeenVerified.

"Scams that show fast growth are worth our attention, as they often become scams that dominate in years to come," said Robert Lowry, the vice president of security at BeenVerified

A multitude of new and old scam angles were reported, among them ones targeting peer-to-peer payment services and other platforms connecting users directly to one another. The fastest-growing scam types in 2022 were Facebook Marketplace (up 184.8% from 2021) and P-2-P cash transfer apps Zelle (86%) and PayPal (31.8%), as well as crypto and romance scammers that use the popular phone and text message app WhatsApp (32.1%) to target their victims. 

BeenVerified examined tens of thousands of scam calls and text complaints over the course of the year. The analysis found that overall business imposter scams are the number one type of scam by volume (15.1%), followed by romance scams (14.3%), which showed an increase of 10% since 2021

Fastest-growing scams in 2022

RankType of ScamPercentage change 2021-2022
1Facebook Marketplace184.8%

As we head into the busy holiday shopping season, BeenVerified warns consumers to be careful of business imposter scams, which comprised 15.1% of all scam messages this year. Scammers impersonate legitimate businesses like Amazon, Apple and other name-brand companies to appear reputable to their target, only to then steal their personal or financial information.

Top scam messages in 2022

RankType of Scam% of Comments
1Business Imposter15.1%
2Bank/Credit Card10.3%
5Free Money6.4%

How to help protect yourself from phone scams:

If a text, call, or email feels like it might be a scam, here are tips to help stay secure online:

  1. Don't respond to the message. Responding to messages alerts the scammer of a valid number and someone willing to talk—this can cause more attempts to solicit information. If a text or call is presumably legitimate, find the company's support number and call them back directly.
  2. Don't click links. Links can be connected to malicious software, such as ransomware, spyware or a computer virus.
  3. Don't provide personal information. Any personal information, such as a birth date, credit card security code or even the last four digits of a Social Security number, could give scammers the last piece to the puzzle they need.
  4. Don't give someone remote access to your device. Never hand over control of a computer or device, unless the owner of the device initiated contact with the company.
  5. Don't pay with gift cards. A legitimate business will never ever ask a shopper to pay by gift card.

About BeenVerified

BeenVerified's mission is to help people discover, understand and use public data in their everyday lives. BeenVerified and our associated websites curate dozens of public data sources and proprietary data sets to give people easy and affordable access to billions of public records.

Contact Information:
Kerry Sherin
PR Manager
[email protected]

Press Release Service by

Original Source: Facebook Marketplace, Zelle Scams Are Fastest-Growing Scams in 2022
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