Extending credit during hard economic times a “Catch 22″?
As a small business owner, you sometimes have difficult decisions to make. (No kidding, Jean! ) One of these decisions is a real Catch-22: In tough economic times, when your customers are not paying as fast, should you risk losing business by tightening your credit terms, or should you allow customers some slack in the hopes of keeping their business?
This is not just a problem in difficult economic times, but you will see more customers taking longer to pay when times are tough.
If you offer 30-day terms, and you see customers taking up to 60 days …read more