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Debt Collection Tips for Startups: 6 Steps Entrepreneurs Must Take to Survive

Taurus Collect

Navigating the financial challenges of running a startup can be a daunting task, especially when it comes to managing receivables. In the UK, an innovative approach offered by many a debt collector is the ‘no win, no fee’ model, providing a risk-free solution for startups to pursue owed money.

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How to Increase Cash-flow during a Crisis

Debt Recoveries

Before taking out a loan, make sure to look for other options first, such as crowdfunding or startup incubators. You are an expert in your field and similarly, there are great debt collection agencies that collect debts and are good at it, so use them. It’s also important to outsource your debts quickly.

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How to Completely Overhaul Your Credit and Collections Process

Taurus Collect

External experts can provide valuable insights and recommendations based on their experience working with other startups and businesses. A well-structured credit and collections process is crucial for startups looking to maintain healthy cash flow and reduce bad debt.

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Signs Your Client is Going Bankrupt Soon

Nexa Collect

It takes startups about 2 to 3 years to become successful and 7-10 to become truly profitable. B2B enterprises are particularly vulnerable because losing one large client can deal a significant blow to the company. Nowadays, businesses are shuttering left and right, so knowing what your partners and clients are up to is essential.

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Q2 Industry Insights: Beating the Economic Heat and Keeping Up with Compliance

True Accord

As the CFPB works to accelerate the shift to open banking in the United States, it also announced a new rule establishing a process for recognizing data sharing standards and preventing dominant incumbents from inhibiting startups. Customization is key.

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High Street giant apologises for Business late payments

UK debt collections

Dozens of SMEs, including startups, in the fmcg space have contacted The Grocer to complain of repeated late payment by H&B, putting pressure on already strained cashflows and stretching resources while chasing down invoices. In certain cases business debt recovery action will almost certain to have been necessary.

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