A credit policy will enable you to have better paying customers that pay on time and spend more money.
There are specific things that having a credit policy will do for your business if you enforce or stay on top of your policy.
- A Credit Policy will help you to be able to deal with and avoid future bad checks, NSF checks or any other returned checks.
- You can have the ability to pull credit reports, check credit, and report good and bad customers to the credit bureaus.
- You will be able to make more money by controlling your cash flow rather than having your customers control how much money you have.
- You will be more effective when doing business online and off.
- You will know when and how to use a debt collection agency.
- A credit policy gives you guidelines for setting up payment arrangements that will benefit your cash flow and help make your business a success.
- A credit policy will help you learn how to extend credit so that it makes you more money.
- A Credit policy helps you when your communicating with your customers to help them stay current.
- You will learn how to take advantage of discounts to make you more money.
- You will know how to use Small Claims Court to your advantage.
- You will learn how discounts and late fee's can increase early and ontime payments.
- You will know what to do if your customer dies or goes bankrupt.
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