Posts by Annie Martin

With the closure of the Energy Bill Relief Scheme, businesses and public sector organisations that have benefited from discounted wholesale gas and electricity prices are now facing a new financial landscape. This scheme, introduced in September 2022, aimed to alleviate the burden of energy costs for eligible participants. In this blog, we will examine the potential financial implications of the scheme’s end and discuss strategies for mitigating any adverse effects.

Unless you have a contract which stipulates late payment interest as part of your contract, I would encourage any business to optimise the government legislation which applies interest and late payment clauses on top of your outstanding invoices.

The global financial crisis of 2008 left a devastating impact on the world’s economy. One of the significant reasons for the crisis was the unethical practices of financial institutions, which led to a loss of trust among customers. As a result, regulators started imposing stricter regulations on financial institutions to restore confidence in the industry. In the UK, the Financial Conduct Authority (FCA) regulate financial services, and one of its initiatives was the introduction of Treating Customers Fairly (TCF) in 2007.

Last month, Time Finance published a survey in which around 20% of their clients turned to them as they were concerned about not damaging client relationships.

A few years ago, I was instructed by a chartered surveyor who was owed in excess of £10k. Long story short, he was acting for a large conglomerate of retail units that had left him high and dry by changing points of contact on an ongoing basis. A quick overview of the debtor’s accounts clarified that they were in trouble.

Not too long ago, an I.T. business contacted me and requested to know if anyone would be interested in purchasing debts, which were around £2 – £3k in value, of which he had two or three.

As someone who has worked in debt and corporate recovery for over two decades, I always take a cautious approach before legal action is considered.

As a small business owner, you may have encountered a situation where you have customers who don’t pay on time. This can be frustrating and financially damaging to your business. But there are ways to mitigate this risk and improve your payment policy.

Have you ever watched old game shows like Wheel of Fortune, Going for Gold, Strike it Lucky, You Bet, and Bullseye?

I recently started reminiscing about these shows and realised that some of our customers seem to be taking inspiration from them and playing games with us. While some customers are great at paying their invoices on time, others give us the runaround and devise excuses for delaying payment.

Experiencing eviction can be daunting and overwhelming, leaving individuals feeling powerless and trapped. The court system and some companies may be viewed as biased against victims or take advantage of the vulnerable by abusing their dominant position. While repossessing and evicting tenants may be necessary, the process can be emotionally taxing.