This year has been named as a “turning point” for British businesses, based on research carried out by financial services provider HSBC.
Asking for money from clients can be difficult to navigate, especially when they are late paying an invoice or being evasive. However following these tips can help you ask for your money whilst maintaining your relationship with the customer and getting the best possible outcome for yourself.
A fifth of all insolvencies are caused by cash flow problems arising from late payment of invoices, according to R3, the Association of Business Recovery Professionals.
Invoicing is an essential part of ensuring you maintain your business’s cash flow. If you carried out the correct procedure when you opened the account then you should be able to invoice accurately as you will have the correct name and address.
Changes to the Tribunals, Courts & Enforcement Act 2007 introduced on April 6th aim to ensure bailiffs are not able to treat debtors unfairly, such as by removing essential goods from their homes.
The latest data from the Finance & Leasing Association shows strong growth across the board in new consumer finance business during February 2014.
Invoicing is a headache for many people in business, but if you can’t keep track of customer payments, you risk looking unprofessional and losing substantial amounts of would-be profit.
SMEs across the country are being urged to get involved in UK Trade & Investment’s Export Week, which is taking place now until April 11th.
We are holding a free webinar on the 30th April at 12.00pm entitled Steps to prevent non-payment. This short webinar is aimed at small to medium businesses in the construction industries and will look at how to ensure you are paid in full and on time for your hard work.
Here are the non-statutory options open to directors of companies that are at risk of going into insolvent liquidation.