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UK SMEs Less Likely To Go Under If They Credit Check
With some businesses it’s necessary to extend a line of credit to clients and customers. This is fine if those customers have a good credit rating but what happens if a company is concealing their financial problems? The answer to this is that companies are more likely to go out of business in…
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Debt Collection Good Practice
All business whether big or small can benefit from having good practices in place when it comes to recovering debt. The main objective of debt recovery is usually to make sure that it doesn’t reach a recovery process in the first place. In other words, how can you help to make sure that…
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Less Firms Heading Into Administration According To Deloitte
The good news this year is that less firms have gone into administration during 2014 than in 2013. The bad news is that not all sectors have done so well in the recovery. Retail has been an area that has suffered badly from the economic downturn. Large chains as well as smaller shops…
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What Happens If A Debtor Defends A Claim
If a company owes your business money, then the first thing to do is contact them to try and recover the money owing. Sometimes, this may result in the company defending your claim against them, which will usually result in court proceedings. Your claim will be allocated to one of three tracks depending…
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7 Things You Should Never Do To Recover Debt
Many companies are unaware that pursuing another company of individual over debts can be fraught with problems if the proper procedures are not adhered to. If you are in any doubt about the processes you are currently following to recover late payments, make sure you are not making the following mistakes that could…
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Micro SME’s An Average 68k In Debt Due To Late Payments
According to data from Companies house, the average micro SME is £68,000 in debt. Behind this staggering statistic is a struggle to maintain cash flow due to late paying customers. Running a small business of less than 10 employees can be as tough as running a large organisation, particularly if the business relies…
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Ways To Manage Your Customer Payments
Unless you have an established accounts department, a challenge for some businesses is how to manage customer payments. It is easy to forget to send invoices or chase payments and this can be catastrophic for cash flow. So to avoid getting into problems here are some ways to manage customer payments. Keep on…
