Cash flow v customer credit limits
If your business grants a customer time to pay – say 30 days – after the services or goods supplied have been delivered, effectively, your money stays in their bank account for 30 days. Further, if you have incurred costs regarding a sale, that have to be...
Recurring sales
Most business owners will appreciate the difference between one-off sales, and services that are generally described as recurring. For example, you may sell a laptop (a one-off sale) and then bolt on a support contract (a recurring sale). The advantage of recurring...
Repeat business
Once you have secured the attention of a customer that has purchased their initial goods or services from you, you have completed the hard part – converted a prospect into a buying customer – so don’t be afraid to follow up with cross-sales offers....
Government to support action against late payers
Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms. These demands take entrepreneurs away from their core tasks of business building and place unnecessary pressures on cashflow. To assist, government is...
