A new year brings a new attitude.
At EC Credit Control we are often approached by business owners for help in collecting their bad debts. Upon investigation we all too often find that the reason the business owner is having issues with late payments is due to the fact they have little or no protection in place in the form of customised Terms and Conditions of Trade. This limits the business owners ability to impose consequences on their debtor without going to court.
For these reasons it has been a great delight to help the likes of Marcus, the owner of a local window business in Miranda, and Stefan, who runs a large equipment hire business in Sutherland. EC Credit Control have assisted these new generation tradies with drafting and implementing Terms of Trade into their business BEFORE any problems arise with bad debts. By being so proactive (as opposed to reactive) Marcus and Stefan are giving themselves maximum protection and leverage for when they encounter a bad debt. This means they have their best chance to recover their money in full while making the debtor liable to pay all costs they incur in recovering the debt!
Both of these proactive young business owners are the way of the future, demonstrating a significant change in attitude. They are opting to put things in place in anticipation of the inevitable, rather than the â€œshe'll be right” attitude which we at EC have sadly encountered too many times.
Good on you boys. For a minimal, one-off investment you have protected your business and it's all-important cash flow for many years to come.