Small businesses are having a hard enough time in the coronavirus pandemic as it is. Maintaining customer confidence, adhering to strict Covid-19 rules and regulations, and maintaining stock supplies in uncertain times is all easier said than done. But there is an even bigger issue threatening to swallow small businesses – unpaid debts.
Investing in debt collection services could be the best thing for your business in 2021.
The heart of the problem
With £2.8 billion of bad debt written off by small businesses and sub-contractors, the scale of the problem is obvious. The changing economic landscape means business operations have changed considerably, and Covid-19 continues to be an issue that’s not going to stop any time soon. For small businesses, debts can remain unpaid from a number of different sources. It can be from customers, clients, or sub-contractors – if you’ve provided goods or services and haven’t been paid, you are owed this money.
Understanding and humanity are key for us all to get through these difficult times, but you can only defer payments so long before it’s your business that starts to bear the brunt of the suffering. You need to think about changing that, and putting the wheels in motion for getting back that money you’re owed to ensure your cash flow is as consistent as possible.
Contact a debt recovery expert
But who can handle that for you? Remember that debt collection can be a very sensitive subject, and whoever you choose to handle the matter is going to be representing your business. That means you want to make sure you choose a team of experienced debt collection professionals who offer efficient service but do so via polite discourse and reasonable methods.
That’s why you should choose Nightfox Investigations. We have a team of highly experienced debt collection professionals who can track down your small business’ unpaid debts, and ensure they are repaid. We have a range of methods at our disposal, including assisting you with establishing and maintaining debt repayment plans to facilitate prompt repayment of what you’re owed.
For more information, or to start the process of recovering the debt your small business is owed, contact Nightfox Investigations today.