How to defuse debt problems
New business owners who can’t get paid must learn to toughen up and tackle bad debtors, writes Avine McNally
Now more than ever, companies have to keep a keen eye on cashflow and make sure late payments don’t threaten their business. Startups, in particular, should be aware that some of the customers they deal with will view delayed payment as a source of interest-free credit.
As you start trading, it is important to put in place a plan of action to tackle bad debts and ensure that there is enough cash flowing...
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