2020 has been incredibly difficult for UK businesses. With whole swathes of the economy suddenly shutting down, many businesses have been forced to close, with others making radical changes to how they do business. While there has been a degree of flexibility and a desire to help the economy through these challenging times, a small minority of businesses have seen the crisis as an opportunity to default on their debts. With bad debts rising, more and more service businesses are finding themselves owed money by companies who appear reluctant to honour their commitments.
Businesses offering legal, financial, creative support, and insurance services to businesses have been hard hit by this increase in unpaid debt. While there’s widespread sympathy for honest business owners who are struggling to keep their businesses going through the crisis, some are clearly taking advantage of the situation. By neglecting to pay their bills, these companies pass on their problems, and put your own business at risk.
The government has introduced a range of schemes offering financial support to businesses to help them through the crisis. This generous package has enabled honest business owners to pay their debts, keep their staff employed and look forward to trading again properly in the future. There is no reason why any company should not honour its debts to suppliers of business services.
Dealing with unreliable customers
If this sounds like something that you are facing, we can help. Nightfox offer face to face debt collection services that can help you deal with the issue. We understand that during the current situation, some of your customers may simply be struggling to establish new ways of working. Our face to face services can be a perfect prompt for them to understand the importance of managing their finances and paying their debts promptly. All of our visits are recorded using sophisticated body cam technology, providing you with total peace of mind as well as generating useful evidence should you need to pursue any claims further.