Handling late payers
Some would argue that bad debts are a way of life for small business, and simply write them off. Others fight back: they use the small claims service of the county courts, which is designed to provide...
View ArticleGetting tough on late payers
If you regularly experience problem accounts then it is worth extending your collection schedule to dictate how you will react to specific amounts of money remaining outstanding for certain amounts of...
View ArticleThe top 10 excuses for late payment
1. “We haven’t received the invoice” – Send regular statements of account, with note asking the debtor to contact you if missing individual invoices. 2. “I’m too busy to deal with this now” – Politely...
View ArticleThe debt problem
Dave Brabants, founder of the Waterproof Box Company, is clear about the need to keep a firm check on your debtor list. In his view, it’s a key part of running any business – whether, like Brabants,...
View ArticleAvoiding bad debt
There are four simple checkpoints to making sure you are paid on time – three of them before you even make the sale. First up, put together some decent terms of trade, which you then send out to each...
View ArticleFinding a factoring company
In brief, there are three types of firm: the factoring arms of the major clearing banks; large, specialist firms; and small, specialist firms. Each will have its own criteria as to what sort of...
View ArticleFactoring guide
All too often businesses get carried away with securing that 'next big order' without considering if they've got the cash to meet it. That's understandable and the thrill of landing 'a biggie' can...
View ArticleTypes of funding for your business
Each source of finance carries different obligations, responsibilities and opportunities for business. The differences have to be understood to allow an informed choice. Many small firms confine their...
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Asset finance continues to grow in popularity
Figures released by Finance and Leasing Association show 5% increase in 2012 deals Small businesses are increasingly turning to asset finance deals to bring in revenue, with a 5% rise in deals over...
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Forum of Private Business bemoans ‘ridiculous situation’ of late payers...
Unilever to sign PPC despite 90-day payment timetable The Forum of Private Business has urged a rethink of the admission criteria for the Prompt Payment Code after it emerged Unilever is set to sign...
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