Keith McLaughlin’s Post

Centrix Data out today has insolvencies up 36%. Now’s the time to consider the below and ask for a quote from Coface to insure against the domino effect of a bad debt dragging your business down.

If one of your concerns is with growing volumes of receivables, consider using pre-charge collections as an option. It can help reduce your bad debt and churn — and it can be an option that consumers appreciate.

If a seller demands a huge upfront payment, it usually results in a lower purchase price. But if they're open to an annuity-like deal with payments spread over a decade, we're more inclined to pay a higher price. It's all about risk assessment. If we pay a large sum upfront, we shoulder most of the risk, including debt payments and other related expenses. In contrast, the seller's risk is minimal since they get most of their money at the closing. #RiskManagement #InvestmentStrategy #AnnuityDeals #BusinessNegotiations

⚠️ B2B BUSINESS OWNERS TAKE ACTION NOW⚠️ I watched the article about insolvencies on the BBC News last night with great sadness, but was not surprised, as this is a consequence of economic downturns that happen on a cyclical basis. My heart goes out to businesses that operate in the B2C space, as I am sure that they are having the toughest time at the moment. Almost all of our clients operate in the B2B space, so aren't quite as vulnerable. I am often asked by our customers what they can do minimize their exposure, here are a few tips. 1. Credit check all of your customers. 2. If they aren't credit worthy, don't offer credit terms (You are not a bank!). 3. Be strict with the credit limits and payment terms (You are not a bank!). 4. Keep monitoring your customers credit-worthiness, and don't be afraid to change the terms as their circumstances change. (You are not a bank!). 5. Good administration - get everything that is agreed and delivered in writing. 6. Be consistent and persistent when chasing payment of invoices. 7. Have a good Debt Recovery Business on speed dial. Ready to respond when customers start to mess you about with payments. I am sure that a lot of you will be reading this and thinking that all of the above makes sense, but who has enough time/people to do all of these things? The truth is, you don't need people to carry out points 1 to 5 above. We have a technology solution that does all of this for just £45 per month. As for point 7. I am happy for you to have my number, if you ask nicely! 🙂 We have also helped out customers with point 6. For more details, why not message me and we can book some time in my diary for a consultation. Full BBC article: https://lnkd.in/ed-dFK9S #insolvencyandbankruptcy #baddebt #debtrecovery #overdueinvoices

Cash flow problems, clients not paying on time, bad debts? With the current climate for most companies cash flow is ever more important. If you have slow payers and don’t want to be an interest free bank anymore, please get in touch!

Grow or die. The stats say that you'll wash out of this business if you can't evolve. Roughly 50% of loan originators left the industry over the past two years, and the projections are that another 20% will leave. Those who are sticking around are changing and becoming more valuable than ever.

It is vital to understand your borrowing capacity with a lender as it has been impacted negatively since Covid. With lender buffer/sensitivity rates still in the 3%s even though your interest rate may be in the 5%s lenders take into consideration the rate + buffer for repayment consideration. Watch below.

Lenders need to be cautious in the face of elevated interest rates and a slowing economy. Stay informed with our latest Small Business Indices. https://ow.ly/Mcva50QaZHQ #SmallBusinessLending #BusinessTrends