Debt Management

/Tag:Debt Management

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,

Is cash flow a cultural crisis for UK business?

According to research from BACs published in 2018, almost half of the UK’s SMEs receive late payments. The average is 72 days. In cash terms, this represents £26 billion owed. Paul Daine of Premium Collections, has this to say about cash-flow issues for small and medium sized businesses, “Chasing payments is a huge barrier to productivity and growth. Late payments are not just an inconvenience, because they can make the difference between keeping afloat or actually going out of business.”

If late payments are so prevalent,

Is personal insolvency a headache for fleet managers?

Personal insolvency has consequences that can be far reaching in its impact on employers, leaving them facing difficult, unexpected issues. One such issue involves cars used for business purposes and their recovery. Here we talk about how insolvency can have a knock-on effect for business fleets and fleet management.

Who’s car is it anyway?
Who owns a company car? There are certain pros and cons to do with whether the business or the employee owns it.

Brexit and the effect on credit management

With Brexit only 6 months away businesses need to be prepared for how international trading, whether they import or export (or both) and whether they trade in goods or services, will be affected after 29 March 2019. With the pound currently almost on par with the Euro, it is already more expensive for UK businesses to trade with European partners, although the plus side is that at the moment Europeans are getting more for their money when buying from UK businesses so the UK has at least seen the potential to increase European sales.