Update May 2022: The Bank of England increased interest rates from 0.75% to 1%, the highest interest rates have been in 13 years. This means you can now claim more interest on your unpaid invoices and we have updated this article accordingly. Interest rates have now risen to 1%, up from 0.75%, the fastest rise in …
The Impact Of Rising Interest Rates On Your Business Read More »
The impact of rising energy prices on your business cashflow can be monumental. The cost of energy, price cap increases and the number of energy companies failing in recent months are putting immense pressure on UK businesses. With UK businesses chasing a combined £61 billion in late payments protecting your business cashflow is more critical …
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Imagine having a crystal ball and seeing which customers are not going to pay you on time before you run into the problems late payments cause. By tuning into your customer’s behaviours, you will be able to clearly identify if there is a risk of your invoices being paid late. Understanding that invoices could be …
Spotting The Warning Signs That A Client Isn’t Going To Pay Read More »
As we wrap up the year and get planning for 2022 it is time to reflect on the previous 12 months and improve our processes, so we are in a strong position for the year ahead. Over the past 12 months we have noticed three key areas where businesses must be better equipped to avoid …
How To Protect Yourself From A Commercial Debt Nightmare Read More »
The number of corporate insolvencies is about to erupt. Global corporate insolvency numbers are expected to increase by 33% next year, returning to levels not seen since before the pandemic began. Deloitte estimate that they could be even higher than the 60% increase in corporate insolvencies experienced in 2009 during the global financial crisis. We …
Corporate Insolvencies Are Rising. What Is Causing Them To Increase? Read More »
No one likes to be left waiting around to be paid. This is why it is so important that you have an effective credit control process in place. Unpaid invoices are the bane of many business owners’ and credit controllers’ lives and cause a huge amount of stress for organisations of all sizes. When the …
How Effective Credit Control Can Help You Avoid Debt Recovery Read More »
Getting help recovering unpaid invoices from a business debt collection agency can be a seen a last-ditch attempt. However, it is always best to act quickly if you are owed commercial debt. Leaving debt outstanding for too long increases the risk that you lose your money for good and you may have to write it …
When Should You Contact A Business Debt Collection Agency Read More »
Recovering business debt can be a daunting process, particularly if you have never been in a position where you have had to use a debt recovery partner. This is completely understandable. Having outstanding invoices and difficult late payers is tough and it can leave businesses feeling vulnerable with nowhere to turn to. Businesses do not …
Recovering Business Debt: Expectations vs Reality Read More »
Late payments are a huge problem for UK businesses with 5.9 million SMEs chasing more than £50 billion worth of invoices. Unfortunately, most debts owed to SMEs are from larger businesses not paying invoices on time. Given recent world events and the impact the pandemic has had on industry and the economy it looks like …
Why Your Business Needs A Debt Collection Process Read More »
Recovering business debt requires a certain set of skills and credit controllers are in high demand given the steep rise in commercial debt owed to SMEs in the UK. Some good news is that the approach to business debt recovery is practically identical across all industries. If you have outstanding business debts to recover read …
