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Apply a credit risk management process to protect your business
Protecting your business is essential, applying credit risk management processes can ensure that your business remains in control of its financial future. As the costs of living continue to rise and inflation increases it is a daunting time for many businesses. Keeping control of cash flow and ensuring that your business remains in the black […]
The late payments battle, Businesses write off £8 in every £100
Late payments and written-off invoices can be the bane of business accounts. For every £100 a business makes £8 is written off. That means your business losses £8 per £100 client spend, we know if it were on that scale no one would give away £8 per £100. However, when you as a business write […]
How to identify if a debtor is stalling
It is essential for businesses to learn how to identify if a debtor is stalling. This can help you understand and take the relevant steps and actions necessary. Getting paid and paying invoices is part of business life. Without the constant circulation of money, everything would stall and fall apart. There are many ways you […]
How to Credit Check a Company & the importance of doing so
Company credit checks are an essential part of business. Many companies may overlook this process, but in doing so you may face complications in the future. A company credit check can highlight certain aspects of a business you may wish to work with. Having this information can help guide your decisions on how to continue […]
Late payment risks, how to future proof your business
Late payments are a risk to businesses for many reasons. It is important as a business to not only future-proof your business goals and create plans on how to achieve those goals but to future-proof your business finances. Having a plan in place that can help you in times of financial difficulties will help your […]
Early warning signs that your client is in financial trouble
Businesses can experience financial trouble at any stage in the lifespan of a business. While we all hope to see brighter days ahead and plan accordingly to ensure we do not end up in financial troubles, life isn’t always so kind. As the economy faces many disturbances and pressures, so does your business and in […]
3/4 of SMEs are afraid to chase late payments
Chasing late payments is an unfortunate part of business finance. While we wish all clients could pay on time and in full, it doesn’t always work like that. There are many reasons why late payments occur and the one-off is usually human error. Multiple, and continuous late payments are where businesses should be concerned. If […]
Why writing off unpaid invoices is worse than you think for your business
When a customer doesn’t pay an invoice on time, it’s easy to want to just write it off and move on. After all, what’s done is done, right? Wrong. There are actually quite a few business ramifications to writing off unpaid invoices that you may not have considered. What are unpaid invoices? An unpaid invoice […]
What laws and regulations govern commercial debt recovery in the UK?
There are many laws and regulations which govern the commercial debt recovery industry in the UK. These laws are there to protect the company filing to claim loss of money as well as those who are in debt. The main two are the Insolvency Act 1986 and The Companies Act 2006. What are the Laws […]
What are the potential penalties for not paying back commercial debts?
Paying back commercial debts is a process businesses should prioritise. There are various penalties that could be sent to businesses that do not pay their commercial debts, and you wouldn’t want to be one of them. It is important for businesses to remain on top of their finances otherwise they could face hardship in the […]
