Dec 29, 2020
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 …
As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Understanding how much credit risk a business could pose to you is critical if …
Effective Strategies For Managing Credit Risk In Your Business Read More »
Reducing your debtor days is fundamental to maximising your cashflow! Since you’re here reading this article we suspect you’re having issues with not being paid on time. You’re not alone. Late payments are crippling businesses all over the UK with 52% of businesses experiencing late payment, and 25% reporting increased instances of late payment in …
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 …
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, …
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