Debt Collection During Covid-19
A series of our videos on the topic of covid-19. The COVID-19 pandemic has led to unforeseen circumstances for many businesses. It is imperative that liquidity is preserved by ensuring that debts are collected promptly.
Financial Assistance Available during COVID-19
The COVID-19 pandemic has led to unforeseen circumstances for many businesses where a lot of companies are struggling with cashflow problems. There are of course, measures in place to assist them. Whether it's through interest free loans, support grants, or tax relief from the government.
Pre-Covid-19 Debt Collection
We currently find ourselves in unprecedented times. And sadly, some customers may use this as a reason to avoid making payments to their creditors. In many instances these balances may well have built up before COVID-19. And so you should not feel that chasing these outstanding funds is unethical in any way.
Safeguarding your Business During Covid-19
Many companies feel that chasing invoices or fees during the current economic turbulence might be immoral. However it is essential to safeguard against debts becoming toxic. It is imperative to act swiftly when dealing with overdue invoices as it is difficult to tell if a company can recover from a prolonged downturn in revenue.