Get a Free Experian SME Credit Report Courtesy of Safe Collections

You could be putting your business at risk by failing to carry out routine credit checks before extending a line of credit to customers.

Any time you conduct work on behalf of a client, or supply goods to them without demanding payment upfront, you are effectively creating a line of credit - and increasing the total degree of risk to which your own company is exposed.

Credit Control for Freelancers & Contractors [Infographic]

We regularly speak to Freelancers and Contractors who are uncertain on how to handle the credit control process after an invoice has been issued.  Credit Control (occasionally called "Dunning") is no black art and it is simply a mix of common sense and a considered approach to ensuring any monies are paid in full and on time.

Below you will find an easy to understand infographic outlining a suggested process for any contractor issuing invoices on 30 day terms.  If your business terms are longer or shorter then just adjust the steps below to suit your client.

Xmas Cons - Avoiding Fraudulent B2B Trading

Many businesses involved in the retail and supply sectors find the run up to the festive period can be the businest and potentially most profitable time of the year.  But it can also be one of the most difficult times of year to keep a healthy cash flow as it's not only legitimate businesses that are gearing up for a bumper holiday period; fraudsters are also busily laying the foundations for a variety of Christmas cons that could leave many already struggling companies out in the cold come January.

  1. Failure to credit check called 'crazy' by ICM
  2. 'Late Payment Directive' consultation results published
  3. Director Ban for family of Tax Dodgers
  4. The Business Bank: a 'helping hand' for SMEs?

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