For many small businesses, securing a contract with a large company is a major milestone. Big clients bring stability, visibility, and consistent work. However, these benefits often come with a hidden downside: late payments.
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Archives for Debtor Advice
Are Your Debtors Delaying Payments? Here’s How to Address the Issue
In my previous blog, we explored how delaying creditor payments can strain your business. Equally critical is understanding how late payments from your debtors can impact your cash flow and overall financial health. Addressing this issue is vital to maintaining a stable and thriving business.
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Navigating Increased National Insurance Costs: A Focus on Cash Flow and Effective Debtor Management
The recently announced Autumn Budget 2024 has highlighted key financial challenges for UK businesses, particularly with the increase in National Insurance (NI) contributions. For many businesses, higher NI costs mean a significant uptick in operational expenses, creating pressure on cash flow and forcing leaders to seek alternative funding sources.
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Debt Recovery and Credit Reporting: What Small Business Owners Need to Know
As a small business owner, managing finances can be one of the most challenging aspects of running your business. When debts go unpaid, it affects your bottom line and can create a domino effect of financial consequences. Understanding the connection between debt recovery and credit reporting is crucial to protecting your business and financial health. In this blog, we’ll break down the link between these two aspects and what it means for small business owners facing overdue debts.
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Navigating Debt: Insights from a Personal Guarantee Specialist
In a recent episode of Jibba Jabba, Sanj Saigal hosted me, a renowned Personal Guarantee specialist and the driving force behind Talk to Ron.
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Navigating Legal Action in Debt Recovery: A Specialist’s Guide
Tackling legal action in debt recovery can be complex and challenging, but for business owners, it's a crucial tool in retrieving owed funds. This blog will explore the best practices for approaching legal action, providing insights and strategies to maximise success in pursuing unpaid debts.
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The Crucial Role of Robust Terms and Conditions in Debt Recovery
In debt recovery, success often hinges on meticulous planning and foresight. One key element that can significantly impact the efficiency of the debt recovery process is having well-crafted and comprehensive terms and conditions. This blog will explore the importance of having your terms and conditions up to scratch and how they can serve as a valuable tool for debt recovery specialists.
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Boosting Financial Health: The Case for Charging Interest on Late Payments
Maintaining a healthy cash flow is crucial for business success, making the timely settlement of invoices a top priority. Late payments, unfortunately, are a common challenge that can disrupt operations. This blog explores the benefits of charging interest on overdue payments and how it can contribute to a business's financial well-being.
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Overcoming Year-End Financial Strain: A Debt Recovery Specialist’s Guide
As December and January bring unique financial challenges for businesses, a debt restructuring specialist, such as Ron, can be a vital resource in navigating this period of uncertainty. Year-end obligations, holiday expenses, and delayed client payments converge to strain cash flow significantly. In this blog, we explore how businesses can overcome these challenges with the support of a structured process.
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Unravelling the Threads: Wilko’s Insolvency and the Unfolding Retail Saga
In the ever-evolving retail industry, few things are as unsettling as the news of a once-thriving giant facing insolvency. Wilko, a household name synonymous with quality and affordability, recently plunged into insolvency, sending shockwaves through the retail realm. As the industry braces for the repercussions, the ripples extend far beyond Wilko's storefronts, affecting suppliers, landlords, and employees.
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