In the ever-evolving world of business, particularly for SMEs, economic uncertainties pose substantial challenges. To help you steer your business through these trying times, our Hampshire commercial solicitors explore the importance of strengthening your credit control and establishing properly drafted, enforceable terms and conditions. Why Credit Control Matters 1. Sustaining Financial Stability: Mot businesses need a steady cash flow. During economic uncertainties, timely payments from clients are even more vital. Effective credit control practices can keep your financial foundation strong and resilient. 2. Risk Management: In business, risks are inevitable. Proper credit control mitigates the risk of bad debt by assessing potential clients and setting credit limits. This approach not only safeguards your finances but also equips you with the knowledge to make informed decisions. 3. Strengthening Client Relations: Surprisingly, solid credit control can improve client relationships. Clear communication about … Continue reading →