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Credit Chasing

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Is Collecting Payment by Direct Debit Viable for Small Businesses?

by Jonathan Pincas on April 23, 2009

As previously explained, at The Tapas Lunch Company, we are sick of chasing customers for payment. Most of our trade customers are bars, pubs, delis and restaurants who are not exactly forthcoming with the cash and we spend too much time trying to get it out of them. So, we are thinking of turning to Direct Debit to solve our credit chasing problems. After having investigated this over the last couple of days, I’m happy to say that it does look viable, even for a tiny business like us. Here’s a summary of what I’ve found and the potential costs involved.

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Credit chasing is a soul destroying activity

Avoiding the Inevitable Credit Chasing

by Jonathan Pincas on April 22, 2009

Recently at my small business, we’ve been getting sick to the back teeth of chasing customers for money. Restauranteurs, our main trade customer base, are renowned for being terrible payers and trying to get them on the phone is fruitless - they’re either too busy, or closed. That means I dread credit-chasing day and most of time, just skip it - which is obviously not a sound way to run a business. I just can’t face this soul-destroying activity and basically, just don’t want it as part of my life.

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