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Author Archives: Blog at Funding Gates - Financial News & Advice for Small Businesses
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Why are Collection Agencies so Sketchy?
Every small business extending net terms will have to deal with a collection agency at some point during its operations lifecycle. Engaging a collection agency is almost always considered as the last option, a necessary evil that should only be … Continue reading
Posted in Trends
Tagged collection agency, collection industry, Delinquency rates, receivables management, sketchy, transparency
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Perfect Terms – Ultimate Guide to Extending Credit without Breaking the Bank
If you are giving net terms (i.e. selling on credit) to your customers, you know they are treating you like a bank. They buy goods or services from you, and they end up paying you months later. You are paying … Continue reading
Posted in How To
Tagged business customers, Collections, credit, Late payments, receivables management, Trade credit, working capital
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5 reasons why customers pay late and what to do in each case
Next time you call a customer to follow-up on an invoice, it is important you know how to sift through the excuses they usually give over the phone or in an email. Unless you know the precise reason why they … Continue reading
Posted in Trends
Tagged delinquent customers, late-payment, payables, receivables, small businesses, Trade credit
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Stop Asking the Government to Find You Capital. Here is a Better Guide.
Let’s suppose that we have arranged a 15-minute interview between just you (a small business owner) and President Obama (and maybe a couple of secret service agents…). Assume that the first 5 minutes of the interview revolves around EVERYTHING non-business … Continue reading
Posted in Education
Tagged bank loan, capital, credit, government, inventory, receivables, SBA, Small business
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Beat Your Competition In 30 days. Here is How:
What metric should you use to compare your business to your competition? There may be hundreds, maybe thousands of companies going after the same customers. Your product offerings, however, may be vastly different. You may not need as much marketing … Continue reading
Posted in How To
Tagged business failures, Delinquency rates, dun & bradstreet, late invoice, overdue accounts, receivables, Small business
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Intro to Working Capital Management
It seems like everyone is constantly talking about how important “working capital” is for your small business these days. The topic is everywhere: national TV commercials, morning radio shows, daily newspapers, your local bank branch and White House briefings. Even your … Continue reading
How to collect late payments
Here’s a typical story you can hear from almost any small business owner: the business opens up a credit line to a customer and decides to accept payment in 30 days. Customer buys something, promising to pay in one month. … Continue reading
Posted in How To
Tagged Accounts Receivable, Collections, Delinquency rates, Late payments, Small business, Trade credit
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