Running a business is deeply rewarding, but it can also be endlessly complex, with ongoing challenges and opportunities arising when you least expect them. One of the best parts about running a business is working with passionate and committed people who are keen to see your ideas come to fruition. One of the worst parts about running a business is dealing with cash flow and managing clients who don’t pay!
While it is deeply frustrating (to say the least) if you wind up in a credit relationship where you’re not being paid, it’s often just through a series of unfortunate events that you end up on the bad side of a creditor/debtor relationship. That said, there are things you can do to mitigate this bad business debt, and there are ways to manage your debts and clients to ensure that your cash flow is no longer an issue.
If you’re in business, we’re making a bet that you’ve probably experienced the runaround that takes place when you’re chasing up a debt. It’s not pleasant, but it’s something that every business owner has to face at some point.
Whether you’ve been chasing the same debt for a couple of months and are reaching the point of utter frustration, or if this is your first foray into debt collection and you’re wondering about the best way to proceed, we empathise.
When hiring a debt collection agency, there are going to be a number of things you’ll naturally be considering. There might be things you have heard or read about debt collection agencies – and while some of them might be positive, others might be negative or just plain untrue. In the interests of helping you decide whether or not hiring a debt collection agency is the right choice for you, we wanted to dispel some of the common myths and give you the facts. Continue reading “Busting common debt collection myths”
If you’re a small business owner, there’s no doubt that at some point in time you’ve had to struggle with an unpaid invoice. Whether it was for a small amount that just niggled at you, or if it was for a large sum that caused a real headache – an unpaid invoice or business debt is not something you should have to deal with. And yet, recent reporting has shown that Australian small businesses are owed up to $26 billion dollars at any one time thanks to unpaid invoices.