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Which Businesses Typically Use A Debt Collection Agency?
Thousands of businesses in the UK use debt collection agencies to help with their debt and credit control. There are a number of reasons why companies might choose to use an external provider, including getting one-off support on problem invoices or having an ongoing credit control service. We provide a number of services that can […]
3 Top Tips for Chasing Overdue Invoices
If you’re a business owner, then you know that chasing overdue invoices is an important part of staying afloat. Not only does it help to keep your cash flow healthy, but it can also have a negative impact on your debt collection rates if you ignore them for too long. In this blog post, we […]
5 Simple Credit Control Tips To Protect Your Business Cash Flow
If you’re a business owner, then credit control is something that’s probably always on your mind. You want to make sure that you’re doing everything possible to protect your cash flow and keep your business running smoothly. Maintaining a healthy cash flow is essential for any business. If your business isn’t able to pay its […]
When Is The Right Time To Reach Out To A Debt Collection Agency?
In English law, the limitation period for debt is six years. This means that if a customer owes you money and they do not pay up within this time limit, there are very few options available to you to recover the money owed to you. A more sensible option is to call in the experts […]
2022, The Year of Widespread Late Payments?
Late payments have always been a problem for businesses, but widespread late payments have become more prevalent in the last year. These are largely due to the Coronavirus pandemic that has greatly impacted many businesses over the past few years. In addition, as many government support schemes are due to come to an end, late […]
4 Business Credit Control Practices To Leave in 2021
In business, your credit control practices are important to start the new year on the front foot. After all, credit control is a fundamental part of any business and credit management process. If you have been seeing an increasing number of late payments or a higher than average DSO (Days Sales Outstanding), then now might […]
Not Being Paid For Your Work? Don’t Be An Ostrich
Do you feel like you are always the last one to get paid? Your hard work deserves to be paid in full, every time. However, often in many trades and lines of work, that is not the case. Late payments can add up and before you know it, you could be owed more than you […]
Payment delays are preventing small businesses from expanding
The Small Business Commissioner (SBC) has warned that late payments are blocking the growth of small businesses. In an address to ICAEW, the SBC said that payment delays are preventing small businesses from expanding and creating jobs. In her address, Liz Barclay noted that 5.7 million small businesses employ 60% of the UK’s workforce. We’ve […]
How to Defend Your Cash Flow in 2022
The last two years have been quite a rollercoaster for UK and global businesses alike, and many have seen their cash flow taken a hit. Some have been bolstered by government financial aid, some were lucky enough to have cash reserves to rely on and sadly, some were unable to make it through the pandemic […]
Why is the supply chain affecting late payments?
Sidetrade, a fintech software supplier to businesses, launched the timely Sidetrade Unpaid Invoice Tracker in January 2020. Since then, it has been tracking the level of unpaid invoices across multiple countries and individual sectors. It displays some interesting insights and positively, unpaid invoices (10+ days late) across the UK have dropped by 22% since the […]