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Do you have credit terms for your business?

As a small business, you often find yourself doing consulting work or providing goods and then invoicing for the work. This is providing goods or services on credit, just as any other credit provider. Large businesses, banks and financial institutions all have extensive terms to assist with providing credit. However, as a debt collection agent, we find most small businesses have no credit terms for this work. Having wording on an invoice “payment due in 7 days” is not enough. This can create a problem when trying to enforce your right to get paid and recover the costs of a recovery agent.

Read the full article in The Nifnex Review.

Published 6 January 2014 at 9:00AM by Natalie Walker