Credit Policy for businesses and how to extend credit and manage credit risk

Is it worth it for a small business to attempt to go after the money due to them?

It depends on the amount of the bill or invoice and what information you may already have on the customer.  If you had the customer fill out a credit application or any kind of paperwork, you should have information that can help you to collect what is owed to you.

You can use this information to try to collect yourself, take the person to small claims court, or place the account with a collection agency.

If you don't do anything else to protect yourself and your business from bad debt, at least have each customer fill out a credit application. This will help protect you.