With summer now fading into a distant memory as the kids go back to school and small enterprises up and down the country knuckle down to business, we thought we’d address a challenge that few people feel they can talk publicly about for fear of losing customers. For many small business owners, it remains one of the biggest problems they face. The issue is late payment and the perennial challenge of chasing unpaid invoices.
A typical small business spends an eye-watering 130 hours per year chasing invoices. This is unacceptable. If only those valuable hours could be spent growing the business or investing in developing staff rather than wasting valuable time trying to get paid!
If you have ever struggled with late payers – no matter how big or small the debt – we have some tips on what you can do to solve the problem.
We also look at ways you can get your staff more motivated and engaged with your business. Research has shown that the more enthusiastic and driven your staff are, the happier and more productive they are likely to be.
And the good news is that motivating staff needn’t cost the earth. It is not necessarily about upping salaries or offering bonuses – there are a number of simple, effective, low or no cost things you can do to make sure your staff are happy, engaged and as productive as possible.