What Happens To Debt When Selling A Business?

Many times when a business gets sold it can be very difficult for creditors to recover any outstanding debts. This is due to a number of reasons, which we will discuss in this article, along with some tips on how you can protect yourself from a bad debt expense. When you learn that a customer […]

Why A Simple $64 Credit Check Could Save You $10,000+

How well do you know your customers? Does your business offer generous credit and invoicing terms without understanding the potentially severe financial risk involved? Do you know you can dramatically reduce your businesses financial risk for just  $64? In the “Age Of Information” and lighting fast Internet data it’s astonishing that the vast majority of […]

Reducing Unpaid Invoices: How To Identify Customers Who Can’t Pay Their Debts

Once an invoice becomes overdue the chances of it being paid in full diminish with every passing day. In fact recent studies show that invoices that are between 3-5 months overdue are 70% less likely to be paid than those that are 1-3 months over due. So what does this tell us? It means that […]

Tips To Pay Off Small Business Debt Fast

If you’re not careful small business debt can add up very quickly. As a business owner this can cause sleepless night, stress and eventually the failure of your business. But if this sounds familiar you’re not alone. A recent study by Gallup, a research based global performance management consulting company, found that 49% of small […]

Small Business Debt Collection Myths Busted

Every business large or small that provides credit to customers (delivering products or services then invoicing after) will eventually have a customer who cannot or will not pay. Depending on what industry you’re in, this could happen very regularly. So along with all the other tasks you have to complete now you also have to […]

Why Your Invoices Are Not Getting Paid On Time & What To Do About It

Cash flow is the lifeblood of your business. If you’re invoices are not paid on time you may stretch your working capital too thin and not be able to operate your business at full capacity (or at all) if you do not quickly address the reasons why this is happening. In this article we will […]

What You Can Do If A Customer Doesn’t Pay

You’ve heard the stories of businesses losing large amount of revenue because of clients who wouldn’t or couldn’t pay. Yet you may believe that will never happen to you. But if you provide products or services on credit then at some stage it is very likely you’ll be dealing with one of these situations yourself […]

Debt Collector Vs Lawyer: Who To Choose For Collecting Unpaid Debts

So you have a customer who has an overdue account and is not making an effort to pay. You have taken a number of steps to recover the funds yourself such as sending a reminder email, making phone calls and sending overdue payment letters. Yet still you have not received payment or worse you cannot […]

Why Businesses Should Credit Check New Customers

In many businesses it is common practice to extend credit to customers. If your business provides products or services and receives payment at a later date, you are effectively loaning money to your customers, and if I were loaning money to people or businesses I didn’t know I would want to find out about their […]

Small Business Debt Statistics: 7 Tips To Remain Cashflow Positive

Australian small businesses are owed $26 billion at any one time because of unpaid invoices as reported in the SMH in November last year. Research published by Intuit shows that of the 508 small businesses surveyed, the average SME is left in the red to the tune of an average $13,200. As a small business owner you’ve typically been […]