Are your debtors paying you in these uncertain economic times?
Or are they using you as a bank? If you want to stay on top of your
debt management we've learned that this is a situation where
the squeaky wheel may be the only wheel that gets the oil.
With cash flow tightening for many individuals and businesses on
the back of rapid interest rate rises and high inflation, it is
critical to ensure your business' debt collection policies are
set up to protect the financial future of your business.
Debtors experiencing financial hardship have limited resources
to pay their often multiple creditors and there might not be enough
to go around. With other creditors like the ATO increasing their
recovery efforts, it is important to act firmly and swiftly to
ensure your debt stays at the head of the queue.
