When doing business with other companies, it is important to know who you are dealing with. A credit check can be of great value here. In this article, we will explain exactly what a credit check entails, why it is important and what benefits it brings. What is a...

In the world of finance, creditworthiness is a crucial concept. In this article, we will discuss what creditworthiness is, why it is important, how it is measured and what factors determine creditworthiness. In addition, we will also discuss whether it is possible to...

The legal payment term is a crucial concept to understand when drafting invoices and payment agreements between companies and consumers in the UK. It refers to the period within which the payment must be made before statutory interest becomes due. In this article, we...

As an entrepreneur, it is important to have a good overview of outstanding invoices from debtors. That way, you can manage your cash flow better and avoid incurring unnecessary costs by having to pay interest on late-paid invoices, for example. Here are some tips to...

A defaulter is someone who does not pay his or her bill. This can range from large payments like a mortgage to small payments like a phone bill. It is important to recognise defaulters so you can avoid payment risks. What is the definition of a defaulter and...

Defaulters can have a major impact on a company's financial well-being. Therefore, it is very important to prevent defaults. In this article, we will discuss five steps that can be taken to prevent default. 1. How do you determine a customer's ability to pay? Before...

Accounts receivable management is an important part of a company's financial management. It involves managing outstanding invoices and collecting funds from customers. Efficient debtor management is very important for the continuity of a business, as it helps prevent...

Factoring is a financing method where a company sells its outstanding invoices to an external party, often a factoring company. This can be an alternative to a loan from a bank, but whether it is more advantageous depends on the company's specific situation....

Defaulters can pose a serious risk to businesses. Not receiving payments on time can affect a company's cash flow and can also damage its reputation. Default risk is also known as debtor risk. In this article, we discuss the impact of defaults and how businesses can...

Credit risk is the risk that a borrower will not be able to meet its financial obligations and therefore does not repay the loan. This risk is present in any type of loan, whether it is to an individual, a company or a government. Assessing credit risk There are...

Unless you've been living in a cave in the Himalayas, you have already had to adapt in countless ways due to the COVID-19 pandemic. Changes such as quarantines and restrictions have impacted not only business but our entire way of life. How can your business adapt and...

Change doesn't begin to describe the effects COVID-19 has had on businesses. But even though your company can't meet in person, you can still create and maintain a culture that brings out the best in those within your company. In fact, successful company culture is...

Some companies start with a great idea. They might try to make it happen, to “follow the dream”, which can make for a wonderful story.  However, a business needs more than a dream to believe in; It needs to be financially viable. And a crucial part of financial...

Recent research reveals more than one in three SMEs find cash flow a challenge A connection lies between unpaid invoices, banks and the struggle that SMEs face The financial service companies Euler Hermes and Bibby have released the findings from their annual survey....

While many dreams of what awaits them beneath glimmering wrapping paper, others anxiously face an avalanche of business activity that they can hardly keep up with - only to be left feeling financially out in the cold when it’s all done. What can help your SME during...

Borrowing is a common practice among governments, businesses, and consumers. In fact, never in the history of humanity has global debt been this high. Few people realize that credit hasn’t always been as popular as it is today. Despite its present ubiquity, I dare to...