Freight Factoring for Owner Operators
Having to give credit terms for goods supplied is bad enough for your cash flow, but not getting paid on time hurts even more. Chances are the first person to suffer the consequences of having no money will be you. You’ll go without before you don’t pay your staff or vendors, but you also have bills to pay so that’s not a long-term solution. Your business may be growing, and you need more staff, but if you can’t pay them, you can’t hire them in the first place. More work for you, and you’re already not getting paid for your time. If you don’t pay your vendors on time, they’ll put you on stop and maybe report you for late payments, affecting your credit score and ability to receive credit and you know what the impact of stopping investing in areas like marketing will be to your business. So what can you do to prevent this happening?
