Poor cash flow and bad debt regularly contribute to the downfall of businesses regardless of size, and the situation can often be compounded by delay in taking action. All businesses need a steady flow of cash to stay healthy and it is essential that they have the systems in place to get paid promptly and keep the cash flowing.
Watertight terms and conditions, efficient credit control procedures and cost-effective debt recovery measures are therefore vital for any business and recent research by business intelligence experts Creditsafe suggests that more and more businesses are prepared to take action to protect their cashflow, with one in four UK businesses intending to take legal action over the coming year to recover outstanding debts.
Ultimately it is pro-active businesses who are the most likely to recover money owed. In many cases there will be no need to go to court, a solicitor’s letter outlining the consequences of non-payment often being enough to ensure that the debt is paid. We offer a pragmatic, cost effective debt recovery service and we would be happy to discuss your needs with you.