For businesses that hire equipment out to small business owners, extending trade credit can be an effective way to increase sales and build customer loyalty. However, it also comes with inherent risks that must be managed to ensure safe revenues. The risks of giving trade credit include late payments, defaults, and even fraud. The good… Continue reading Managing Risks in Hiring Equipment While Giving Trade Credit to Small Business Owners
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Trade Credit: How to get paid what you are owed
As a business, if you’re extending credit to your customers, then you’re operating based on the trust that they’ll pay you in due course. Unfortunately, some companies won’t be able to meet their duties and will default on their payments. The success of your business relies on you eliminating as many of these potential defaulting… Continue reading Trade Credit: How to get paid what you are owed