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  • 600+ Business Solutions - Getting paid on your terms
    As the lockdown eases and supply chains start to reopen, you could find yourself renegotiating payment terms with existing customers or striking deals with new clients. How can you ensure the payment terms are in your favour?
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  • 600+ Business Solutions - Invoice finance to be more accessible to SMEs
    The government plans to outlaw the practice of large companies preventing their SME suppliers from accessing invoice finance. Why are these contractual restrictions unfair, and what will the new law mean for SMEs?
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  • Tips & Advice You & Your Business - The Small Business Commissioner’s website
    The Small Business Commissioner’s website..SBC website. The Small Business Commissioner (SBC) - who was appointed in December 2017 - finally has a fully functioning website (see The next step ). We’ve had a good look around it and the advice for small businesses, which was promised as a key service of the SBC, is pretty sparse. The most notable section shows how to complain about a dispute with a larger company regarding an unpaid invoice. To use this SBC service, you must have fewer than 50 employees and...
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  • Tips & Advice You & Your Business - Debt help delayed
    Despite new regulations in 2017, most small businesses aren’t benefiting from the government’s latest prompt payment initiatives. What’s the full story?
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  • 600+ Business Solutions - New debt recovery rules for businesses
    From 1 October 2017 businesses that wish to recover debts will be required to follow a new “pre-action protocol for debt claims” in certain situations. When will it apply and what are the consequences if it’s ignored?
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  • 600+ Business Solutions - New insolvency rules will benefit creditors
    New insolvency rules will benefit creditors..Bad debts. Recovering debts from business customers who have gone under can be a long and painful process. The good news is that from 6 April 2017 the Insolvency (England and Wales) Rules 2016 (see The next step ) should make things easier (the rules in Scotland are unaffected). The new rules aim to speed up the process plus reduce and simplify administration. This should cut liquidation costs and so leave more money in the pot for creditors. What’s changing? From...
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  • Tips & Advice You & Your Business - New reporting rules for payment practices
    New reporting rules for payment practices..Regulations. At the end of January 2017 the Department for Business, Energy and Industrial Strategy published guidelines for those businesses which from 6 April 2017 must report details of their payment practices. The regulations won’t apply to SMEs, but they may benefit from them. Big business. Most large companies and LLPs will be required to submit reports every six months giving details of the average time it takes them to pay their suppliers. A website, presumably...
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  • 600+ Business Solutions - OK to charge interest?
    A customer has built up a large overdue account. You’ve told them that if they don’t pay you’ll add interest starting from next month. They say that you can’t do that because it’s not in your terms and conditions of sale. Are they correct?
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  • Tips & Advice You & Your Business - Invoice financing ban removed
    New rules will prevent one business from blocking another using its invoices as collateral to raise finance. When and how might this affect your company?
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  • News - Prompt Payment Code tightened up
    With the average business waiting for £31,901 in late payments, the Prompt Payment Code has been updated. But will this really make any difference?
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