Dec 29, 2020
Energy prices are skyrocketing at an alarming rate, both domestically and for businesses. Price cap increases, the soaring cost of wholesale energy and the hefty amount of energy companies going bust recently are all fanning the flames when it comes to the squeeze on UK businesses. With the total value of late payments rising by …
If you’re looking for help on how to improve your business credit rating fast, you’re not alone. It’s a question thousands of business owners ask because of how important it is to have a solid business credit score. Having a good business credit rating puts you in good stead for a successful future and gives …
Growing a business is one of the toughest endeavours any person or group can take on. And in many ways, it’s also one of the most rewarding things in life. Operating a business is a constant slalom full of barriers and hurdles we must overcome for success, and to survive and continue trading. There are …
The Immediate Hurdles SMEs Must Overcome For Success Read More »
By incorporating insolvency data into your credit control processes, you can monitor business health in real-time and connect multiple data feeds to receive alerts when a business reaches the brink of insolvency. Using data-driven technology to bolster due diligence protocols can help you make informed decisions when extending credit, exploring business partnerships, and building professional …
How real-time insolvency data supports credit control Read More »
Late payments are ravaging SMEs in the UK with 50,000 businesses failing each year as a result of waiting for overdue invoices. And the problem with late payments is only getting worse. The total value of overdue invoices has increased by 22% in the past 12 months with businesses now chasing £61 billion worth of …
This article was written by Helen Tanner, founder of the award-winning, Bristol-based, global data agency Data3. The have just launched myDATA3 which is an instant, all-in-one business dashboard tool designed for start-up founders. Why I designed a data tool for start-up founders…because I am one My Dad has been a SME business owner for as …
Late payments are a huge problem in the UK. Research from Hitachi Capital UK found that a staggering £51.5 billion was estimated to have cost UK SMEs in 2019 with the actual figure expected to be much larger. A third of SMEs have said that they had experienced late payments of at least £10,000 in …
What is bad debt? Bad debt is credit owed but has been deemed uncollectible, in other words the cash is lost and must be written off. Not good for anyone! All businesses should seek to avoid bad debt but unfortunately, it’s a risk that businesses face when granting credit to customers. The good news though …
Credit risk. Sounds like quite a daunting term doesn’t it. But it doesn’t need to be. You see, being exposed to a certain degree of credit risk is part of doing business today. Businesses need to find the balance between amplifying sales by granting credit and leaving themselves too vulnerable by granting too much credit, …
Credit control is an essential practice for all businesses big or small and is key to keeping a healthy cash flow. However, it can take a large amount of time, resources and expertise to effectively carry out. That’s why many businesses opt for using outsourced credit control services that can fulfil their credit control duties. …
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