NK Credit Consultancy

A Year to Remember!

As the end of a year approaches it’s natural that we get a little reflective on the past year as we look forward to the next. And I’m no exception. But this year, more than ever, I’ve got reason to reflect. In the beginning 2017 was a big year for me. Driven by a need […]

Prompt Payment Directory

Have you heard of the Prompt Payment Directory?

Payment performance is a big part of the due diligence we should undertake in respect of prospective customers. It’s vital we make sure we know who we are doing business with as my previous blog, ‘Are you selling your stuff or giving it away?’ explains. With the UK’s late payments culture affecting four in ten […]

Six strategies to avoid crippled Christmas cash flow

The Christmas period is almost upon us. It’s a time to be merry and dispense peace and goodwill to all men! It’s also, as this business report article on how Christmas can cripple cash flow, points out, one of the most dangerous times of the year to experience cashflow problems. How peaceful will you be […]

Are you selling your stuff or giving it away?

Someone wants to buy your stuff… yippee! A cause for celebration for sure. What do you do next? You give them your stuff and then wait for them to pay you. Unless of course you’re a business who takes cash with an order. In which case there’s no need to read any further! Trusting to […]

Pay Your Invoices on Time

Why you should pay your Invoices on time

First and foremost, it’s unethical to pay invoices late. That aside, you don’t want your customers to be late in paying so why would you expect someone else to put up with it from you? There’s nothing illegal about late payment. But ask yourself this: is it moral? Ethical considerations aside there are in fact […]

Contract

It’s a Question of Trust

I’ve had a very busy first month learning how to run a business and networking with some great people. It’s been lovely to meet lots of new people and hear about their businesses, and the stories behind them. One thing that has become very clear, from talking about what I do and why I do […]

Picture of £20 notes

Show me the Money!

Did you know that a third of payments to small businesses are received, on average, 30 days late? And the average value of each late payment is £6,142? Or that around one in five businesses had to write off unpaid invoices as bad debt in the last year, with an estimated average loss of £31,330? […]