Top tips for preventing and chasing late payment

Recent research has shown that many small businesses are scared of chasing late payment. But, if a customer doesn’t pay you, they’re hanging on to money that is rightfully yours and you shouldn’t be afraid to ask for it. All small businesses should have a routine system in place for following up non-payment that includes a letter, email, and telephone, but be prepared to act more quickly if the amount is large or you are concerned about the customer. If you can answer yes to the following questions about an outstanding payment, you can legitimately chase late payment.   Did

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