The impact of COVID-19 has been monumental for a lot of us, particularly for business. UK Chancellor Rishi Sunak has today warned “the UK economy will contract by 11.3% this year, the largest fall in output for 300 years.” He then went onto state that economic output won’t reach pre-crisis levels until Q4 2022. The …
Official Forecasts Now Predict The Biggest Economic Decline In 300 Years Read More »
When it comes to collecting debts on behalf of your business, we know first-hand that you have many questions about the process. In this article, I share insight into the commercial debt recovery process and why it might not be what you think! The Debt Collection Process When people hear the term ‘commercial debt collection’ …
An Insight into Commercial Debt Recovery – it’s not what you might think! Read More »
Being paid on time is now more important than ever given the economic upheaval caused by COVID-19. From businesses going through administration to account disputes there are several reasons that a customer will pay you late. Being paid on time is essential to your business’ survival, they support a healthy cash flow and prevent your …
How to Handle Poor Payment Behaviour From Businesses Read More »
Age of invoice: 4 months old Principal Sum: £12,000 Days to recover: 10 days A recent client within the manufacturing industry got in touch to discuss a 4 month old debt. They explained how the debt was worth £12,000 and there had been previous contact with the debtor on several occasions arranging a payment …
Age of invoice: 2 years old Principal Sum: £6,750 Days to recover: 5 days We were instructed by a recruitment agency to recover a commercial debt against a business managing consultancy for a principal sum of £6,750.00. Under “The Late Payment of Commercial Debts (Interest) Act 1998” our client was also entitled to claim …
There’s no denying that technology has shaped the way we think and how we do things, but how is it impacting the finance sector? With the rise of the Fintech industry it’s clear that the way we do finance is changing. But what does this mean for accountants and credit departments? Is it replacing the …
Fintech – friend or foe? How is technology helping the finance sector? Read More »
The 2020 coronavirus has caused disruption for businesses worldwide. With our “new normal” involving facemasks, social distancing, and self-isolation we can only wonder how this will affect our businesses in a post-pandemic world. In this blog, we discuss some ways to help your business recover from the pandemic and how to navigate into this new …
Tips to Help Your Business Recover From the Coronavirus Pandemic Read More »
Due to the coronavirus pandemic, and the resulting impact on businesses worldwide, credit controllers are being sympathetic when it comes to collecting commercial debts. However, given the current unstable state of the economy many businesses are going under which could put your debt at risk. In this recent case study, one of our clients have …
If you read my recent LinkedIn article ‘Should your business consider the coronavirus Bounce Back Loan?’ then you’ll know all about the government’s financial support scheme for businesses. But, what other support is available if you don’t qualify, or if you have already used the scheme? In this article, I explore alternative funding options to …
Should Your Business Consider Additional Funding? Read More »
THE NEW CORPORATE INSOLVENCY AND GOVERNANCE ACT CAME INTO EFFECT FROM THE 26TH JUNE 2020 With the current uncertainty it is now more important than ever to get paid on time and in full! Ensuring your customers are paying promptly is a worry for many business owners and credit control departments across the country. Many believe …
