-
Which UK Region Has The Most Indebted SMEs?
Large amounts of debt can be a massive red flag if it’s a company you are about to enter into a business arrangement with. A recent survey however might help you decide which is the best part of the UK to be doing business in if you want to avoid potential problems with debt recovery.…
-
Debt Recovery No Contract
As a small business owner or start-up founder it can sometimes be tempting to start work on a project without a contract. Sometimes the one thing that isn’t considered is what happens if that client decides to pull out without paying for services already received? Understandably it can sometimes be harder to pin clients down…
-
Recent News Reminds Us No Business Is Too Big To Fail
If your business operates as a supplier to a small group of large brands, then this will probably be providing the vital foundations that underpin your operation, ensuring its survival. But what happens if one of those businesses fails? This can and does happen even to some household names as we have seen in the…
-
Are You Keeping A Close Eye On Your Customers?
If you run a b2b business then you may already be aware of how difficult it can be to recover late payments. Often it can seem easier to stop chasing when the costs of doing so outweigh the investment you put in. This is why it’s all the more important to do some detective work…
-
The Simple Way To Reduce Your Risk of Not Getting Paid
The amount of debt written off by business every year in the UK is eye watering but the risk of having your own business suffer can be reduced by a simple thing that is often over looked in small businesses – effective credit control. Of course no business can avoid problem customers. Even the most…
-
New Research Highlights the Importance of Getting Paid on Time
The impact of late payments on cashflow is well-known, however a recent survey shows that late payments come with additional consequences for those businesses affected. The survey of 1,233 British businesses commissioned by employee spend management firm, Concur, found that 4 in 10 of those businesses were feeling the impact of late payments. The way…
-
Why Time Is Precious In Debt Recovery
A common issue when businesses decide to pursue their customers for unpaid bills is the amount of time that has passed before they get to that stage. Some businesses might leave it for more than a year before they decide to pursue debtors and this often creates some ambiguity into what rights a company has…
-
Debt Recovery Just Got Tougher For Businesses
…At least when it comes to recovering money owed by individuals and sole traders following the introduction of a new set of rules introduced this month to ‘speed up’ up the debt recovery process. For anyone who isn’t aware, the new Pre-Action Protocol for Debt Claims came into force this month (1 October). The new…
