Academic journal article Manager

Small Businesses Guide to Good Credit Management

Academic journal article Manager

Small Businesses Guide to Good Credit Management

Article excerpt

The Better Payment Practice Group (BPPG), in partnership with credit management specialists, Credico, is now offering a free guide for small businesses designed to help both suppliers and buyers with late payment issues.

The Guide provides advice on how to credit vet customers, manage credit risk and collect payments promptly. It also offers information on the Late Payment of Commercial Debts (Interest )Act 1998, which currently allows small businesses to claim interest on bills paid late, and provides readers with a useful list of support services and publications.

The Guide is part of the BPPG's year-long Collect the Cash campaign to provide information to small businesses on the techniques of credit management and the business benefits of controlling trade credit and getting invoices settled promptly.

Douglas Godden, Head of Economic Policy and Enterprise Group at the CBI and member of the BPPG, commented: "The Guide is an important step on the road to changing payment culture in the UK. …

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