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  February 25, 2018   
Business Services Center
Finance: Credit & Collection
Home :: Business Services :: Business Services Center :: Finance :: Credit & Collections

   Credits & Collections:
Although everyone agrees a credit and collections policy is essential, no one really wants to do it. As a result, it is something a lot of small owners put off until there is no other choice. Those few customers who don't pay their bills grow into many, and suddenly the business owner realizes that they need to spend time collecting overdue accounts. As the customer base grows and more customers want to pay by credit, business owners realize that they need to offer credit terms.

Small businesses that don't plan ahead frequently end up spending a lot more of their time than necessary fixing credit problems than they would if they had been proactive about their credit policy. A poorly planned credit policy could ruin a thriving business.

Unless you're in the debt collection business, you do not want to spend all of your time collecting debts. Time spent running your business is much more productive than time spent on collections. Spend a little time thinking about your credit policy early on, and you could save yourself time and money down the road.

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