Getting paid on time is an issue for every business – regardless of the shape, size, or industry. Whether it’s customers that pay you late, or an overdue tax rebate, trying to get paid on time is a problem for one in five businesses.
With too many consistent late-payers, your expenditure won’t be covered, which can mean that you will quickly fall into the red and your business could be in trouble.
Not getting paid on time can make the threat of insolvency loom large for businesses, regardless of their size or apparent profit. That’s why sorting out your credit control systems is vital to the success and longevity of your business.
In 2017, The Wow Company found that as many as 15% of business owners were operating on the edge of their personal finances. Another 14% of businesses were found to be operating on low margins (that is, they had a net profit of less than 10%).
Keeping on top of late-payers and getting paid on time doesn’t have to be a headache for business owners. In fact, that’s why we’ve combined forces with Chaser and GoCardless to create a handy guide to help you get paid on time.
And why not also check out our recent webinar with Chaser and GoCardless! We sat down with our app friends, alongside financial advisor Mark Probert of cact.us, to find out how to get your credit control in order and get paid on time.
Get Paid On Time Webinar with Chaser and GoCardless
Click here to download our ‘How To Get Paid On Time’ Guide and get your credit control sorted.
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