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Getting paid on time is an ideal situation for any business that offers credit to their customers; but unfortunately this is not the case for many businesses throughout the UK. Late payment can, at times, be done in all innocence but others will provide spurious excuses as to why you have not received payment, or […]
Having the knowledge and procedures in place to for dispute resolution in business can save a lot of time and effort that could be spent on other parts of your business. The trick is to identify disputes early so resolution is found quickly, and ensuring that you are still paid on time. The Order to […]
Agreeing payment plans with delinquent customers is a common part of credit control. We’ve included some guidelines to help you get the best outcome for your company and to make consequences of defaulting on the agreement clear to your customer. If you follow the above guidelines, you should be confident of getting paid, or if […]
When budding entrepreneurs decide to be the next Mark Zuckerberg, dreaming of creating a vast business empire and billions in sales, the last thing they usually think about is the financial risk to their business and to them personally. Some may find the thought of managing financial risk daunting, but it should be straight forward. […]
We hope this blog finds you well. If there is anything you would like to see more of in our round ups from more Credit Management Hints & Tips to help on E-learning webinars let us know: COMMERCIAL CREDIT MANAGEMENT Demand for guarantee backed SME finance rose by 68% in 2023 Fifth of SMEs want […]
It can be tricky to get paid on time for a business within any industry, however the construction industry is an entirely different ball game when it comes to getting paid. Sub-contractors in particular can often bear the brunt of poor payment practices within the construction industry, and often lack of knowledge can make the […]
During my time in business, I have come across many people who view credit control as their worst nightmare. The idea of ringing customers to ask for payment can be a daunting thought for many; however, from my experience, it is a daunting task because of lack of confidence in the task at hand. Confidence […]
Debtors Guide Q & A Where the Act is to be enforced Why the ACT? The legislation fulfils the UK’s obligations under the European Directive on combating late payment of commercial transactions. The UK was one of the first countries in the EU to implement late payment legislation and maintains this legislation after Brexit. The […]
Do you find it difficult to get paid on time? Have you ever had to write of a bad debt? Have you ever put off taking action on a debt, due to uncertainty? If your answer if yes to any of the above questions then you may find that, if not addresses appropriately, issues can […]
During your years in business you are likely to come to a time when you need to make a claim against someone for non-payment. There are a number of things you can do to make sure the process runs smoothly and ensuring that you are suing the correct person is one of the most important […]