Debt Because Of Unpaid Invoices?
Dealing with unpaid invoices can be worrying, stressful and complex. As a business, you may be wondering what to do about your growing debt, and what options you have for recovering the funds. You should rest assured – you are not alone.
Research shows that 13% of invoices remain unpaid each year for small businesses, and 39% of invoices fail to be paid on time. This leads many businesses spending hours chasing invoices and late payments when they could be working more productively.
There are many reasons that your customers might not be paying their invoices. This includes cash flow issues, problems with the work itself, companies going out of business and general administration.
Whatever your reasons for not getting the cash you are owed, it can have a dramatic impact on your cash flow and ability to pay invoices. This can put you in financial hardship which, if left unmanaged, could have serious implications for your business.
How Can Clarke Bell Help?
Tackling the problem head on is the key to overcoming your invoices problem. The experienced and qualified staff at Clarke Bell can help with business rescue solutions that are tailored to your unique business situation so that you can receive expert remedies that put your business finances back on track.
This might include issuing a county claim form and might result in going to court – although in our experience it rarely gets to this stage. Negotiating with your customers is also part of a business solution – allowing the party to enter into a legal agreement whereby certain amounts of the debt owed are paid off over time.
You will also receive professional advice from Licensed Insolvency Practitioners Clarke Bell about the kinds of solutions you can action to get your invoices paid, and you will have full and comprehensive support along the way.
For more information on how Clarke Bell can help you with your financial situation, even if you are just looking for advice, contact us today. We can draw on our many years’ experience to deliver practical solutions that puts your business back in the driving seat.