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Better Business Bureau is a corporation consisting of several private organizations that gather reports on business practices, customer satisfaction, fraud, and other such factors that determine the overall quality of a business’ practice. The Better Business Bureau issues accreditations to other businesses, which helps fulfill their goal of making things easier between businesses and customers; businesses are shown to perform much better in the marketplace when they are regarded as being â€œBetter Business Bureau approved.â€ Motorcycle loan companies, food manufacturers, automobile makers, insurance companies, and nearly every medium to large-scale business that can be thought are subject to the practices of the Better Business Bureau.
How does it work? Well, let’s say that you own a motorcycle loan company. Should you unscrupulously leave an error in your loan documentation that creates severe difficulties for the borrowers, you could very easily be reported by your unhappy borrowers to the Better Business Bureau. The Better Business Bureau will then log this information into their online database, and will make it easy to see for other prospective customers. If a substantial number of complaints are sent in, the Better Business Bureau will have a lot of arguments against your business. If, however, you offer fair rates and quality loan service, you will be fortunate enough to join the ranks of other Better Business Bureau approved motorcycle loan companies.
The Better Business Bureau has played an integral role in protecting the public in this fashion since 1912. The principle catalyst for it was the epidemic of so-called â€œsnake oilâ€ remedies, and other phony medicinal products that then circulated the markets. It was successful in spreading to other industries, which is why we can now consider the phenomenon of Better Business Bureau approved motorcycle loan companies, but it should be remembered that its origins have to do more with helping the enforcement of the Pure Food and Drug Act of 1906.