On Tuesday 5th March Simon Marks of Marks Recoveries & Legal Services provided some tips and relevant case studies showing how businesses can get paid on time.
According to the Federation of Small Businesses, late payment of invoices is the biggest single reason for business failure. It is estimated that more than half of Britain’s SMEs are currently waiting for overdue bills to be settled, with an estimated £50bn in late payments outstanding.
Knowing how to get paid for the work you have done or the goods you have supplied is therefore key for businesses looking to maintain a healthy cash-flow whilst preserving the relationships with all of their customers. As a member of the Chartered Institute of Credit Management (CICM) and an experienced debt recovery specialist, Simon shared his top ten tips for getting paid on time.