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

Did you know….

There was a 57% increase in home foreclosure filings in March, compared with the same month last year?

 
Keep your eye on the economy for the next year and a half and make sure your business can survive this terrible economic crisis.  Are any of the people being foreclosed on, your customers?  How can you help them while helping your business?

Keeping your head above water will become harder and harder in the coming months.  Take practical steps to make sure you can stay afloat.  Don’t extend credit unless you are POSITIVE you will be paid back.  With the economy in such turmoil, many consumers financial positions are changing overnight, you need to be aware of this and make sure you will be paid for your services or products or your financial position will change and it won’t be in a positive manner.