Tags: bad debts, cash flow, companies debts, company debtsCompany debts are a norm in businesses and as small business owners, we all know a healthy cash flow is vital to a business.
Although the stressful period of retrieving my bad debt is over, I still have many customers that cannot pay up in full or delay the payment by 1 month or so.
Tags: bad debts, cash flow problems, Debt Collection, legal action, SMEsDid you know that from a survey done in UK, 47% of SMEs have no provision in place for bad debts or unpaid invoices? 34% will rely on legal action should they find themselves in such a situation, 27% would use their bank overdraft facility and 15% even plan to cover their shortfall with their own savings!
Unfortunately, even with good working relationship with suppliers and customers
