Newspaper article The Journal (Newcastle, England)

A Collect Call for Region's Businesses; Fast-Growing Businesses Should Always Make Sure the Money Is Coming in Promptly, Says PAULINE APPLEYARD, Associate and Head of the Debt Recovery Team at Ward Hadaway

Newspaper article The Journal (Newcastle, England)

A Collect Call for Region's Businesses; Fast-Growing Businesses Should Always Make Sure the Money Is Coming in Promptly, Says PAULINE APPLEYARD, Associate and Head of the Debt Recovery Team at Ward Hadaway

Article excerpt

Byline: PAULINE APPLEYARD

WHEN your business is expanding at a rapid rate, it can be difficult to keep track of the actual cash coming in.

However, it is arguably more important than ever in the current climate for companies to ensure they collect what is owed to them.

Maintaining a robust approach to minimising late payments is crucial to cash flow.

Recent surveys indicate that up to 75% of businesses in the North East suffer from late payment.

Clearly this can cause some serious problems and companies cannot afford to take a relaxed attitude to collecting money they are owed.

Businesses are going through tough times at the moment and some may be finding it hard to meet their outgoings.

However, that does not mean that companies can simply afford to accept excuses for late or non-payment from their customers.

This is money which is owed to them and without that cash coming into the business, companies who are owed money will themselves find it harder to make ends meet.

Debt collection can be used to bring in money owed to businesses, but there are a wide range of different methods available. …

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