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Business, industry and trade

Giving credit and how to control it

Providing credit to customers is a normal part of doing business. However, it is important to have a policy on who gets credit and processes to ensure you get paid on time.

	Establish a credit policy Implementing a credit policy is the first step to ensuring your business gets paid on time.

	Why you're not paid on time Understand the reasons why accounts become overdue and find out how to prevent it from happening.

	Collecting overdue accounts and bad debts Use the phone Other collection methods

	Bad debt warning signs Learn to recognise the warning signs of bad debts.

	How to handle excuses Excuses for non-payment are many and varied. Discover how to handle them.

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