7 ways to make sure your business gets paid on time, every time

Cash is the lifeblood of any business. And in the first few years of your start-up, the ability to get cash into your bank account faster than it goes out again will be one of the main measures of whether it is a viable business.

Every year, many small businesses fail, simply because they run out of cash. Even profitable businesses can be brought down by cash flow problems caused by slow-paying customers.

Without clear credit control procedures to ensure your customers pay you promptly, your business won’t be able to grow and could jeopardise your ability to pay your own bills in a timely manner. That’s the start of a slippery slope that can end in the destruction of years of hard work.

Don’t let your business die this way. Here’s how to build good credit control procedures into your operations from day one, with ByteStart’s seven ways to make sure your customers pay you on time, every time. (more…)

Business debt recovery – A practical guide for small businesses

If your customers do not pay you on time (or at all), then they are inflicting serious damage to your business.

It is something that is so often overlooked as ‘one of those things’ small businesses just have to put up with, but with the right approach you needn’t let your business succumb to this common problem.
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What to do when a client refuses to pay or can’t pay

If you’ve got a business headache right now, there’s a pretty good chance it’s to do with clients owing you money.

It’s almost as if the economic downturn has become a prime opportunity for anyone who fancies improving their own cash flow to help themselves to better credit terms from their suppliers… but without asking permission.

That has a knock on effect right down the line. And it’s no wonder that small, cash poor companies at the bottom of the chain are the ones that suffer the most.
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Late payment the biggest cash flow killer

A recent survey shows, once again, that late paying customers remain the biggest single threat to the health of the UK’s small businesses. Here, we provide some tips on how to avoid late payment problems.
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