Posted on 23rd September 2021 at 18:38
From Our What'sUp? Workshop 22 September 2021
It’s a perennial problem for many businesses, and a particular one for small companies where cashflow has to be carefully managed: too many clients fail to pay on time, and sometimes not at all.
This frequently leaves a hole in the company cash reserves and makes it a real headache for the business owner because both of the following are true:
We need the payment as agreed
We want to keep our clients happy and not lose them
So in the interests of maintaining healthy relationships and healthy bank balances (or at least a positive cashflow) the Workshop Panel looked at the possible tools and techniques available to deal with a reluctant payer along with some tips on what works for them personally.