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Businesses must focus more on debt collections in 2022

It should be no secret to anyone owning or running a business. It is slowly getting more expensive to operate a profitable business and it is not getting any less costly. Costs associated with just about everything on your expense sheet have gone up during the past 12 months.

And as you’ve also seen, the pandemic caused many people to spend more money. We have seen this mostly in the form of home improvements as well as other items to make working and living at home more enjoyable. While statistics have shown that people have saved more recently, they have also been willing to purchase more.

Financial stress is a real thing, especially for those operating a […]

Some of our best tips for handling debt collections internally

There are several reasons why organizations of all sizes would be looking for a debt collection agency. You may be a small business and have reached the point where you’re tired of chasing down late and nonpaying customers. Or maybe your organization regardless of the size has limited internal resources to handle the task of getting your customers to pay on time.

Whatever your reasons are, you will want to find the best agency that can understand your needs, be a great fit as well as treat your customers fairly. Because after all, treating your customers with respect is something that you would do in all aspects of doing business with them. Including, trying to get […]

2021-10-01T10:43:30-04:00September 27th, 2021|Categories: Small Business Collections|

Don’t make these 5 mistakes when trying to collect money

Your company has done the work, you feel like the client or customer was satisfied with what you’ve done, and you’ve done your part and sent an invoice for the work provided. Most of the time, you see a check in the mail, or they arrange for other types of payments such as a credit card.

Other times, it feels like an endless waiting game to get some clients to pay. After a certain amount of time, you realize you may not be getting paid for the work you have conducted, and it is time to get a little more assertive to get that bill paid.

However, we find many companies both large and small businesses can […]

2021-08-03T09:09:23-04:00August 3rd, 2021|Categories: Small Business Collections|

3 effective ways to deal with your late paying customers

While there may be many unknowns when running a small or large business, one thing we know for sure is that late-paying customers and clients are part of operating any size business. If you have clients, there will be a percentage of them that will either pay late or in some cases not pay at all.

Before we get into some of our tips for dealing with customers that do not pay, we would love to offer you some sound advice as you navigate this part of your business. And before hiring a collection agency, you should get comfortable with a few things.

One of the first things that should come to mind is that this is […]

2021-07-03T17:23:06-04:00July 5th, 2021|Categories: Small Business Collections|

Effective debt collections acknowledges unique consumer challenges

As the light the end of the metaphorical-pandemic tunnel gets brighter, creditors may be questioning whether sending consumers to collections is appropriate.  Considering the financial hardships people have endured throughout the pandemic, it is a legitimate concern.  Many consumers were laid off, some were forced to work lesser hours, and other people’s jobs were eliminated permanently.  Even though vaccines are being distributed, and some benefits have been received, it will take many consumers a while to get back to where they were financially before the pandemic.

Our message to creditors is simple.  Absolutely send those consumers to collections.  Why?  Because it is not a punishment to do so.

Many consumers who fall behind in their bills are […]

2021-06-15T07:58:50-04:00June 15th, 2021|Categories: Small Business Collections|

Lowering the stress level in your small business

While running any type of small business can be stressful and cause business owners some type of anxiety, this past year during the coronavirus pandemic has caused more business owners and small business operators some of the hardest stress we have all seen in recent times.

We worry about small business cash flow, hiring, and firing, regulations, permitting, community relations and so much more. We worry about reputation, various crises in our business and we agonize about bringing home enough money for our families. And of course, every industry has its own unique challenges.

If you are running a small business, then you know it can be stressful. But it can also be a rewarding experience if […]

2021-05-25T10:12:40-04:00May 25th, 2021|Categories: Small Business Collections|

Tips for conducting a monthly review of small business finances

If you are like many small businesses, you don’t just sit at your desk all day and shout orders to people. You are doing everything. And depending on the time of year, as you well know, your level of hands on activity can vary depending on the seasonality of your business. If you are in lawncare or a pool construction company, you might be full steam from April well through October.

Collection agencies that work with small business hear from owners and other all the time when things such as cash flow start to suffer. And because many in business get too busy to take care of the back end of their operation sometimes, finances begin […]

2021-06-16T09:21:59-04:00March 29th, 2019|Categories: Small Business Collections|

Should I Take On Debt in My Small Business?

As a collection agency for small businesses of all kinds, you probably know our philosophy on debt. Well, because we’re working hard to resolve that debt for our clients day in and day out.  That’s what we do. Resolve debt.

The individuals, and in many cases, other small businesses we are calling on, are in some kind of debt. For whatever reason, they are not paying their bills on time or paying them at all and most times, there is a reason. Debt, in most cases has a negative association attached to it because so many get in trouble with it.

But is all debt bad? It all depends on who you ask but the main theory […]

2021-06-16T09:22:48-04:00March 14th, 2019|Categories: Small Business Collections|

Are you paying attention to risks in your small business?

When it comes right down to it, risk equals money in a small business. In fact, if you’re running a small business, that can be a risk in itself. Every day can present a challenge that can either help your business take off to a new level, or harm your business in some way. And hopefully your risk-taking takes you in the positive.

But it’s the risks we encounter daily that can cause a small business owner time, money and reputation. And it’s how you handle them that can make or break your profitability.

As a collection agency that works with small business, we hear countless stories from those in business about the ups and downs of […]

2021-06-16T09:23:32-04:00June 21st, 2018|Categories: Small Business Collections|

Small Business is the backbone of our economy

If you own a small business, manage one or even work for a small business then you have an important role here in our country. You are a major player in the US economy. In fact, you are pretty much the backbone of it.

A small business as you may know is any organization that employs 1-49 employees. And the SBA says that over half of Americans work for a small business. That is everything from the professional consultant, the lawncare company, that great breakfast place down the street and that local dental practice.Collection agencies for small business

Small business survives on great relationships. Taking care of the […]

2021-06-16T09:21:09-04:00May 3rd, 2018|Categories: Small Business Collections|