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Post new topic   Reply to topic    Downsizer Forum Index -> Small Business Questions, Ideas and Advice
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Shan



Joined: 13 Jan 2009
Posts: 9075
Location: South Wales
PostPosted: Thu Nov 22, 12 9:01 am    Post subject: Reply with quote
    

crofter wrote:
Hairyloon wrote:
I think people should be quicker to litigate: https://www.moneyclaim.gov.uk


But how quick? If it is somebody who is going to pay, but is slow, you have lost that customer. Soon you may not have many left. No customers = no business. I agree with yummersetter, up to 60 days is normal for most businesses, for some, under 2 months is considered quick!


Agreed, 60 days is quite normal and whilst we would like it to be 60 days from invoice, more often than not, it is 60 days from the statement.

I have to say, I actually find it easier to get money out of bigger companies than small ones because big companies have a system they stick to, whereas it is often hand to mouth for small companies.

MarkS



Joined: 01 Aug 2006
Posts: 2626

PostPosted: Sun Dec 30, 12 8:01 pm    Post subject: Reply with quote
    

I know several small firms who have used this company on late payers: https://www.thomashiggins.com/

They'll do a warning letter for £2 which has remarkable success. It indicates that you're serious and are using professionals to deal with it, which is often enough to encourage payment. Too many people think they can use their suppliers as an overdraft.


Other debt collection agencies are available; I have no connection; YMMV; etc.

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