Hi guys, my name is Tim and I’m currently working on a project that is looking at what effect late payments from clients is having within the consulting industry.
I’d love to hear the thoughts of the group on the following:
1) As a business, what are your payment terms? And when do you actually get paid by your clients?
2) Do long/late payments ever cause cash-flow issues?
3) Do you ever have to chase payments? Is this a pain? How do you currently go about doing this?
4) Do you currently use any method of credit to cover cash-flow issues caused by long/late payments? (I.e. Overdrafts, credit cards, a loan facility)
5) On a scale of 0-10 (where 0 is no pain and 10 is the worst pain) how painful is the issue of late payments to your business?
Cheers guys, we are looking to get to the bottom of the issues caused by late payments in the industry - so any information you can provide would really help us tackle the problem!
Looking forward to your responses! :)