Newspaper article The Evening Standard (London, England)

Simple Steps to Call Your Debtors to Account

Newspaper article The Evening Standard (London, England)

Simple Steps to Call Your Debtors to Account

Article excerpt

Byline: Ask James Caan

I spoke at the Evening Standard Business Connections event last week, and enjoyed answering questions on everything from cash flow to mentoring. I wanted to touch upon one of the questions I was asked: I run a debt collection agency and I often hear from people employing us that the debtor is "their best customer". I have to explain that their best customer is the one who pays. As part of the Start Up campaign, are you reminding recipients of funds that they must carry out due diligence? Can you teach them how to collect their money so that they don't panic as to how they are going to settle their own bills? -- David Cash control has a direct impact on many parts of the business. When you work with your clients, make them aware of your payment terms. This will make things easier for you further down the line. …

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