Category: Chasing Payments

  • How do late payments affect small businesses?

    Chasing late payments wastes time and money for small businesses, as well as posing a serious threat to their survival. Late paying customers are a frustrating and worrying problem that most small business owners are all too familiar with. In fact, research shows that on average small UK businesses are owed £24,841in late payments, and…

  • Tips for encouraging customers to pay on time

    Late payments can have a dangerous knock-on effect to your business’ cashflow, as well as costing you time and money to chase them up. The safest way to do business is always to take money upfront. Failing this, it’s important to take whatever measures you can to encourage customers to pay you on time, every…

  • 3 steps to determining a customer’s creditworthiness

    If you supply customers with a product or service, then offering a credit facility is a great selling point, but it doesn’t come without its risks. Whilst it is impossible to completely safeguard yourself from non-paying customers, it pays to have a system in place for checking a company’s credentials before you commit to working…

  • CCJs Issued Against Businesses on The Rise Again

    After a long period when the number of CCJs issued against businesses was in decline, the third quarter saw a sharp increase. This suggests that companies are currently far more willing to take their claims as far as a CCJ than they have been for quite some time. 32,629 business CCJs were issued in the…

  • 3 Things You May Not Know About the Enforcement Process

    If you have taken someone who owes you money to court and you win the case, then the debtor has only a limited time to pay you what they owe or face the prospect of bailiffs coming to their premises. This part of the enforcement process is governed by the following actions you may not…

  • Recovering Debt from Outside Within the EU

    Recovering debt from companies outside the UK is no easy task for the average business owner but despite the popular myth that it is impossible to recover money from foreign companies, the EU does offer similar protections to those in the UK. All this of course may change if the UK fails to reach a…

  • How To Make Sure You Keep Up With Invoicing In 2019

    Did someone once say ‘a successful business always collects its payments on time’? If they didn’t, then we’re saying it because collecting payments when they are due is essential to maintaining cashflow in a business. Here are out top tips to make sure you start the year of right. Keep detailed records about your customers…

  • Should You Use Social Media To Get Your Invoices Paid?

    There is little doubt that social media has brought about revolutionary changes in the way we communicate with each other. Even the US president uses it as a way to communicate his thoughts about other world leaders and the issues of the day so does that mean it’s ok for business owners to use it…