Cash is king. It’s an old saying but cash really is king.
We are in a very tough trading period at present and I don’t think I have ever seen as many social media posts with people bemoaning bad debt, late payments and being ghosted.
The small businesses I talk to are in the same boat. Debtor ledgers are rising, payment terms are getting stretched and cash-flow is getting tighter.
It is a problem that many have and add to this, small business owners not wanting to speak to clients owning money because they don’t like the confrontation and don’t want to upset the client.
I was burnt many years ago with a client going bump owing me a lot of money. I introduced changes to my process and have thankfully, not had a problem since.
Many of these issues are solvable with the right know-how.
I recently was In Discussion With Rob Lewis of Corporate & Commercial who shared some of the eye-watering and heart-breaking stats in the UK right now and also shared the simple strategies that can be introduced to tackle these issues full on.
Want to put bad debt and late payments behind you and maximise your cash-flow without upsetting your clients? This ‘In Discussion With’ interview with Rob is a must watch.
