Cashflow

/Cashflow

How safe is your credit?

By Paul Daine, Premium Collections

You know the score, don’t you?
Your credit score that is. As consumers, most people are proud of their credit score and look after it to ensure that if and when they may need a loan, a new car, credit card or a mortgage they will get automatic acceptance at the best possible rate. However, in business you may not review your credit rating or you may not even know you have one.

Protecting your cashflow

These are somewhat unique times and many business owners face an uncertain future. However, there are a number of things you can do to minimise the risk of bad debts and to keep your cashflow positive.

Make chasing payments from clients the first task you undertake each day. Don’t just email them, give them a call. Chasing payments can be time-consuming and distracting. It can mean wasting days, if not weeks, of unproductive time. Late payment may be something larger companies practice,