Tuesday, 16 March 2010
Credit Control Guide |
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In one of our recent surveys, 74.7% of respondents said that late payment severely affects cash flow and poses a 'considerable threat' to the viability of their businesses. Late payment continually features in the commentary that we receive from our members and it is important that small firms are released from this stranglehold in order for them to be able to compete more effectively with bigger businesses.
Late payment was a major concern for our members as far back as the 80s and 90s, which led us to campaign for legislative reform. Our success in achieving not only UK legislation, but also a European Directive, was a direct reflection of the support and encouragement shown by our members.
However, although legislative reform has been useful, there is no substitute for individual businesses managing credit control effectively. Our Credit Control Guide contains a wealth of information and examples for managing cash flow. Much of the information may already be known to you, yet there will undoubtedly be something in here you weren't aware of and, above all, it is a practical and usable guide that will ensure you can minimise late payment to your business.
If you aren't yet a member of the FPB, you can read a sample chapter on managing debt or sign up for membership now.
The Guide covers:
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