Late payment of invoices is a hot potato now and has always been around. http://www.due2pay.co.uk/ has been set up to tackle the problem of late payment and Debt Recovery by levelling the playing field where at the moment it is stacked in favour of the customer. The difference today is that ruthless management fired by profitability has been replaced by the distinct need to use a supplier’s money in order to fund operating costs and wages. Many new start ups are by people who are enthusiasts in their chosen field, design, engineering, gardening, wood working. These businesses are at the mercy of today’s business environment. Many of them don't realise the effect of giving a company an extra few months of credit. Only when the supplier goes to thebank themselves for credit to find out what it costs to borrow £10,000 for a month will they realise why they themselves have cashflow problems and need to resort to Business Debt collection. A well known statistic is going round that 1 in 10 businesses are in danger of collapse due to cash flow problems. SMEs need to be alert to those that will take advantage, they also need to hand over the handling of finances to their staff who deal with it on a daily basis. They need to ask their staff to be on the ball on their behalf. A Company Credit Check is always an important starter but companies should not ignore their own gut feelings

Google DUE2PAY now for better cash flow

Late payment is a problem for many UK businesses and can lead to serious cash flow problems, it reduces profits and can threaten commercial survival. If a business is continually paid late it can have no option but to raise its prices, if it can, to reflect the costs of the finance required, or going into liquidation is another option.

The act of raising prices in the current climate can cause their customers to change their supplier. There are and always will be businesses which have no qualms about using the the ‘protection’ of using Limited Company status to avoid payment and debts which they have no intention of paying. Debt Recovery initiatives are often too late and sometimes the late payer themselves are so near the line that the Business Debt Collection alternatives have no effect.

Early use of DUE2PAY can serve as an early warning device for all UK limited companies and as a Business Debt Collection method in it’s own right.
In today’s climate, companies which are living hand to mouth, being short of work sometimes ignore normal business precautions and accept orders without making good credit checks.
Google DUE2PAY and you will find a simple tool to help defend yourself against unscrupulous companies which sacrifice their suppliers in pursuit of their own profitability.
DUE2PAY is a novel approach which has been wanting in the UK commercial world for many years. It addresses late payment by using the internet to make it possible to put companies who suffer late payment in touch with each other. For the first time you can list a company as a late payer on a web site and other companies which are dealing with that company are able to contact you. Members are anonymous on the site but can if they wish exchange details and join forces to combat the problems caused by a specific company.
Another feature of the site is the ability to create a WATCH LIST of companies which you want to keep an eye on. As soon as a company is listed as a late payer, all members with that company on their WATCHLIST will receive an email saying that company has been listed.
DUE2PAY is giving teeth to the supplier, enabling them to take action on companies which could drive them under.