The A to Z of Profit Growth – D is for Debts

It’s time for the weeks The A-Z of Profit Growth! Today we look at the dreaded D… D is for Debts!

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KMA The A to Z of Profit Growth – D is for Debts

That’s it for this week’s edition. Watch out for next weeks episode.

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Hi, it’s Kim again with your next profit growth advice. D is for debts and avoiding your bad ones in particular. It goes without saying that a great way of contributing to profit growth is minimising bad debts or avoiding them completely. This may seem a daunting area to approach, but if you get yourself a good accountant, they’ll implement an effective debt collection system for your business, which will allow you to collect monies owed quicker and reduce the risk of bad debts occurring. It could be that they throw the book out with your existing debt collection policies, or just that they suggest some improvements to them, such as getting paid by direct debit, either way, they’ll be able to help you implement better terms of trade and debt collection policies, which in turn will improve cashflow and maximize your hard-earned profits. If you want some advice, contact me on the details below.

Tags: D is for Debts, Profit growth, The A-Z of Profit Growth