Throughout my daily travels in the inner west region of Sydney I find that even established businesses with over 20 years trading history do not have effective Terms of Trade in place. Many say because they have not had to rely on them in the past they do not realise the importance of Terms of Trade. However once I have explained the benefits of a watertight set of Terms and Conditions of trade they all realise how important they are to help you get paid when you incur a bad debt.
The Inner West is no different to other parts of Sydney or the country for that matter. Terms of Trade are the foundation for effective protection of the cash flow of your business.
EC Credit Control is regarded as the expert in drafting Terms of Trade customised specifically to suit your business.
Make Terms of Trade a top priority to implement this new financial year so you can plan for the future, safe in the knowledge that you have a strong contract in place to enforce when you need help to get paid. Don’t leave this important decision until it is too late and you incur a bad debt.
Be proactive, act now to protect the cash flow of your business, your finances and your lifestyle and of course your family. Don’t be the “I'll be right, it can wait until tomorrow” business owner, because one day tomorrow will be too late.