Small Business Collections

If you’re a small business owner and you’ve been trying to do the books yourself, take a few minutes to understand why hiring a bookkeeper can be a game-changer for your small business.

We know that some of you out there continue to try and do everything in your small business, including all the invoicing, bookkeeping, and financial duties. But that should not be the case. If there’s one thing you should outsource or get some help with, it’s the financial aspects of your small business.

Hiring a bookkeeper to keep your business on track can be called mission-critical. Without detailed attention to your small business’s financial activity, cash flow can plummet quickly.

Reasons to hire a bookkeeper […]

Effective communication can solve many challenges in a business of any size. In fact, it is a mission-critical component of any type of business. Whether it’s internal or external communications, every business needs to make this a priority.

When it comes to cash flow in an organization, this is a critical area where strong communication is key, and consistent communication can make a difference.

Being crystal clear on payment expectations with customers and clients can drastically impact your cash flow.

Clear expectations help prevent misunderstandings and ensure more timely payments. They can also protect your business’s financial health, promote transparency, and enhance the trust you have with your customers.

Check out our quick guide to understand why payment expectations […]

There are countless myths about debt collectors and the debt collection industry as a whole. Debt collections in many circumstances can be a complex situation for both the business trying to recover money and the consumer trying to navigate financial difficulty.

If we go back to the nightly news programs of past, many of us remember the segments that only focused on some negative behavior of a chosen few working in the industry.

However, that’s just not how the debt collection industry operates currently. Collection agencies play a mission-critical role in the businesses they serve and the overall economy.

But there are still many myths floating out there.

If you want to learn more about the positive aspects of […]

Every size business, whether a small business or a larger organization will have to manage late and non-paying customers. It’s just a reality of being in business and part of the accounts receivable process.

Not every customer is going to pay their bills on time. That would be nice, but it just doesn’t happen for a wide range of reasons. Some of those reasons are legitimate and other reasons will challenge you and your staff.

Keeping current with accounts receivables and maintaining cash flow are constant challenges of running any small business. That’s when a small business needs to decide to implement some form of debt collection activity.

Let’s examine the various challenges a small business faces with […]

A healthy debt collection process helps businesses of all sizes maintain positive cash flow which is critical for many reasons.

Cash flow is the backbone of any size business and positive cash flow keeps a business healthy and strong. It allows for consistent operations, a healthy bottom line, meeting the needs of your workforce and the confidence to know that you have the resources to grow if needed.

Your business must have positive cash flow!

Let’s go through some of the obvious and not so obvious reasons why debt collections is an integral part of your organization’s cash flow. […]

If you’re like many owners and operators of small businesses, you’re looking at the year ahead and trying to figure out how next year can be better than before. While New Year’s resolutions might not work, getting the year off on the right track is time well spent for your small business.

From reviewing the processes and procedures your small business uses regularly, looking at cash flow, invoicing and how you use a debt collection agency, to just some basic goal setting, it’s important to review your small business goals annually.

If you are running a small business and are eager to boost your profits in the coming year, check out our tips for building your small […]