Small Business customer not paid invoice? – What can you do
If a Small Business Customer doesn’t pay their invoice, what can you do?
All Business invoice payments should be made on time. It is a simple obligatory requirement that is part of a streamlined business process. As anybody in Business knows, this is not always the case. Having simple processes in place will usually see Small Business invoices paid on time and in a timely manner.
Regrettably this does not always happen. You can have the most efficient invoicing system in the world but it is ultimately down to your Business customers to pay. Unfortunately this is one thing you cannot control no matter how slick your credit control systems are.
When payment is not made on overdue invoices, it can become an obstacle in cash flow terms. If your Small Business customer is breaching the payment terms of your agreement you are going to need to act. An expedient, Professional solution will more often that not do the trick. You might want to consider taking the following action:
Begin by issuing a Letter before Action – giving 7 days for payment
If basic attempts have been made to secure payment but ignored, it is time to be a little more firm. Firstly, send a 7 day letter before action that details the original terms agreed for payment. Politely let them know that further action will be taken if payment of the invoice is not made.
A deadline of seven days is more than enough considering the invoice will already be overdue. Sending a recorded delivery letter before action will let them know that you are serious about your small business getting paid.
You should mention in the letter that interest and possible debt recovery fees may be levied on the debt. Advise them that it will be much easier for all parties if the payment of the invoice is made.
Speak to a Small Business Debt Recovery Expert
If all your attempts to get your Small Business paid have failed, it is time to speak to an expert. No Small Business can afford to carry Business customers that do not want to pay.
The Expert Small Business Debt Recovery Team at Federal Management are well versed on all scenarios relating to small business debt recovery. Our Expert team will provide a FREE evaluation and assessment of the situation. We can also conduct preliminary due diligence on the party that owes you the money.
It could be that they are in financial dire straits or have ceased trading. Whatever the situation, as a Small Business Owner you will want clarity on your options. We can assess the situation for your and advise of the best possible solutions
Our Small Business Debt Collection services are driven on the principle that all Small Businesses should be paid. Paid for the goods and services they have provided in good faith. This is why we operate a fully comprehensive low fixed cost service. No drip pricing, No hidden profit making agendas, just straight forward debt collection services for Small Businesses in the UK.
If you would like to speak to one of our Small Business Debt Recovery Experts for Free advice and assistance, click here for immediate help.