Some steps you can take to assist with the management of cash flow and debt collection
Written on the 5 March 2012 by Jacqueline Walker
Clients who take forever to pay their bills and treat you like a bank can be frustrating at the best of times. According to credit information company Dun & Bradstreet, it now takes an average 55.6 days to be paid – the slowest rate of payment in three years.
Focusing on a healthy cash flow is essential for any successful business. Getting business debts under control is crucial for small to medium enterprises, especially in the current climate. Identifying ‘bad’ debts promptly leads to a good company credit rating, the survival and growth of the business and security for its employees.
If you’re seeking to recover a business debt, here are some steps you can take to assist with the management of cash flow and debt collection:
Going to Court:
For debt recovery advice or for explanation of a Court document that has been served on you, feel free to contact our Commercial Litigation team on (02) 4904 8000.
Author: Jacqueline Walker