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Credit Control in COVID-19 Environment

“Shall I chase my customers for payments during pandemic?” a lot of my clients have recently asked me this question.

Indeed, I’ve asked this question from myself. The simple and honest answer is YES, without a doubt. When you provide services or sell your products to your customers, you are entitled to be paid for your work, no matter pandemic or not. Businesses that are greatly affected by the pandemic receive cash from the government via grants, furlough scheme and loans, so they can stay afloat and pay their suppliers -you. Remember, cash-flow is vital for the survival of your business; plan your cash-flow, chase your customers when they owe you money. If you need advice on how to plan cash-flow on 1-,3-, 12 months bases, please let us know. The information provided in this article is not intended to constitute legal, accountancy or financial advice. You should take independent legal, accountancy or financial advice before relying on the information in this article or before decisions are made or before you embark on any course of action. Irina Inayat Penn Accounts 0207 183 6623 #IrinaInayat #PennAccounts #PennGroup #CashFlow #COVID19Support #Covid19 #CreditControl

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