Making Sure your Suppliers are Legitimate

At some stage or another, when establishing and running an online business we will at some point need to source a supplier or research for a new supplier. There are various ways of researching for a supplier, however with the explosion of online supplier websites and ease of global trade, the growth of fraudulent suppliers have never been so high. Today and mainly online, literally one out of seven suppliers will be found fraudulent. Sounds scary doesnt it?

So how do we prevent us from falling into the hands of an indecent supplier or wholesaler? Well after personally losing thousands of dollars to fraudulent suppliers online(and even though they suppliers were apparently verified by the supplier website), we at Online Wealth Solutions developed a step-by-step system to filter out this costly frustration.

Again we do get into this area more in our DVD course, however for now what you can now do before you look for any supplier online is firstly type your suppliers company name or personal name into the major search engines such as Google followed by the word scam or fraud. You may not find anything however eight times out of 10, the same fraudulent supplier would have cheated a great deal of buyers in the past and so many wouldve expressed their frustration online through various forums and website.

This of course will not guarantee that you’ll be in the clear in the event that you don’t any supplier feedback online. However it is a crucial start to your research. Another aspect your need to look for is whether your supplier is verified and that period of time they have been registered with the website you initially found them on. You’ll need to retrieve contact information, see if they have a working website and whether that easily contactable during the day or night. Fraudulent suppliers tend to be online for only a few hours and then off-line for the rest of the day and night so keep your eye on this!

It truly can be a dangerous battlefield online especially when trying to source a supplier for your online business or business in general. But by taking the necessary steps to minimizing your risk, you’ll be able to secure a reliable supplier that will keep your business flourishing for many years to come.

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