Dec 29, 2020
Did you know you’re legally entitled to claim late payment interest and compensation for any of your overdue invoices? Late payments are one of the most frustrating parts of doing business and the effects are devastating, with 440,000 businesses possibly being forced to close as a direct result of being paid late. This shows the …
How To Boost Cashflow With Late Payment Interest Read More »
Updated June 2023: The Bank of England increased interest rates to their highest point in 15 years, up to 5%. The Bank of England have now raised interest rates for the ninth time this year in an effort to combat inflation. Interest rates have now climbed from 4.5% to 5%, the most rapidly these rates …
What Does An Interest Rate Rise Mean For Your Business? Read More »
UK businesses continue to patiently wait for a change in the economic climate as pressure continues to mount – particularly on top of SMEs (small and medium-sized enterprises). The domino effect caused by rising insolvencies is that late payments also become a frequent threat. Compulsory company liquidation rates have doubled year-on-year, further highlighting that this issue is …
In any business, effective credit control and maintaining a healthy cashflow is crucial for long-term success. Effective credit control practices help businesses manage their finances by monitoring and regulating credit sales and ensuring timely payments. However, it is essential to strike a balance between maintaining healthy cashflow and nurturing strong customer relationships. This article explores …
The Impact of Credit Control on Customer Relationships Read More »
Download this guide as a pdf as well as our other resources for free here! Credit control is a vital aspect of financial management for businesses. It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. This guide provides a comprehensive overview of credit control practices …
Offering trade credit can bring a huge boost to your business! In today’s business landscape, companies are constantly seeking ways to attract and retain customers while maintaining a steady cash flow. One effective strategy that accomplishes both goals is offering trade credit. This is an arrangement where businesses extend credit to their customers, allowing them …
The Benefits of Offering Trade Credit & How To Mitigate Risk Read More »
Effective credit control is crucial for maintaining a healthy cashflow and financial stability. By implementing a well-structured credit control process, businesses can mitigate the risks associated with late payments and bad debts, ensuring a steady stream of revenue. In this article, we will explore strategies to optimise your credit control process, helping you maximise cashflow! …
Maximising Cashflow: Enhancing Your Credit Control Process Read More »
With the number of registered company insolvencies at 1,685 and 183 compulsory liquidations in April 2023 – nearly twice the number in April 2022 – the pressure on UK SME cashflow remains very real. This is according to Lynne Darcey Quigley, Founder & CEO of Know-it. “The headline figure issued by the Insolvency Service this week for April appears …
With the number of registered company insolvencies at 1,685 and 183 compulsory liquidations in April 2023 – nearly twice the number in April 2022 – the pressure on UK SME cashflow remains very real. This is according to Lynne Darcey Quigley, founder & CEO of Know-it. “The headline figure issued by the Insolvency Service this week for …
Glasgow-based fintech Know-it has launched a new national TV ad campaign in partnership with STV. Having won the prestigious Startup Summit award, Know-it were awarded airtime on STV to reach a national audience on primetime television. Know-it is a cloud-based credit management platform that streamlines the complete credit control process, enabling users to credit check …
Scottish Startup Know-it Reaches National Audiences With New STV Ad Campaign Read More »
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