Credit control
A regular flow of cash is essential to the smooth day-to-day running of a business – particularly a smaller one. The vast majority of small firms simply do not have the reserves to allow them to wait for payment of what they are owed without a severe impact on their bottom line.
 
The statistics on late payment are frightening:
    • 57% of SMEs were owed money across Great Britain in 2008
    • Poor payment practice costs UK businesses £20bn every year
    • The total of late payments rocketed by 7.3bn to £25.9bn over the last year
    • Small firms are each owed an average of £38,000 at any one time
    • 1 in 4 businesses go insolvent due to invoices being paid late.
 
If you are a member of the FPB, you can access our online Credit Control Guide. (Please note: you must be logged in to view the Guide). Non-members can read a free extract on managing debt from the Guide.
 
Managing Cash Flow Guides
Institute of Credit Management logoThe following guides were written and produced by the Institute of Credit Management in association with BIS, and are supported by the FPB. For more tips on getting paid and advice on best practice in credit management, or to download all the guides in PDF format, visit www.creditmanagement.org.uk
 
 
How the FPB can help
 
We have produced a guide to surviving the 'credit crunch', which is full of useful tips from our advisers on how to:
    • Manage your finances
    • Stress test your business
    • Take advantage of opportunities
    • Keep an eye on debtors
    • Keep staff motivated
    • Be smart with cash deposits
Templates
 
Download our FREE credit control template bundle, which include customisable purchase order, delivery note, invoice, first reminder and letter of final demand templates.
 
Hot tips
 
Our website is also full of advice on how to improve your credit control and cash flow, including hot tips articles on:
We offer a range of deals and credit control solutions that help to save our members' businesses money.
 
  • Business monitoring
    Stay up to date with your competitors by monitoring daily changes in key business data.
  • Credit reporting
    View company credit reports quickly and easily online to check out new customers.
  • Debt recovery
    Trace debtors and recover your money quickly with our no collection, no fee service.
 
Click here for a full list of benefits and money-saving offers available to our members.

Sign up online for membership here. Alternatively, if you would like to know more, fill in our call-back form and a member of our friendly team will get in touch. You will receive a call from us by the end of the next working day, at the latest.