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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…
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Ways To Avoid Payment Problems With New Customers
Extending credit is a good way to win customers and help them spread the cost but it can open up a whole new set of problems actually getting the money in. Also confusion over when payments will be made by new customers can be worrying for many businesses who set out to offering…
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3 Ways To Handle Late Paying Customers
Late paying customers can be a major problem for your business so it is important to let them know as soon as possible if they seem to be overstepping the mark on paying you what is owed. With this in mind here are our top three ways to handle late paying customers before…
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How To Avoid Debt Having An Impact On Cash Flow
It’s easy to get lulled into a false sense of security with your customers – your best ones in particular. But if you don’t keep an eye on their payments it could be a disaster for your cash flow and in some cases it can spoil the relationship you have with your customers.…
