PROWRITER

  Every year, start-ups and small businesses in the UK fail because they run out of cash. One of the main reasons for this is cash flow problems caused by slow-paying customers and  bad debt . Unless you implement a clear credit control process, your business’s ability to grow will be under threat. Why is Credit Control so important? Cash flow is the lifeblood of any business. Without it, a company can’t pay its bills, invest in new products or hire new employees. That’s why credit control is so important – it’s one of the primary ways businesses ensure they have enough cash to run their operations. Credit control is the process of monitoring and managing a company’s accounts receivable – that is, the invoices it has issued to customers but hasn’t yet been paid for. By closely monitoring these accounts and taking action when payments are late or delinquent, businesses can improve their cash flow and avoid financial problems. That’s why we’ve put together these 10 key c...