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

Amid sagging profits, Yahoo has decided to lay off 1000 of its 14,300 employees in the hopes of returning to growth by 2009.  As we continue to read stories like this in every major newspaper and on every news channel we see the fear of a recession grows.  If a company the size of Yahoo has to lay off employee’s how will my small business survive?

Right now your most important employee is your credit manager or who ever in your office keeps your customers accounts paid and up to date.  If your company has customers that owe money, call them today. 

You need to protect your business from having problems like Yahoo.  Collecting from your past due customers and not extending credit are ways you can do that right now.