Small Business credit_small.jpg  Credit is at the heart of every successful small business.  Both accessing credit from suppliers and lenders and providing credit to customers are crucial small business management tools.  Here you will find information on how to manage your own credit policies as well as how to figure out what credit products are right for your business.
Credit policy questions
Offering credit is a great way to grow your business but it can be risky. Cover your business by implementing an effective credit policy.
Provide credit with caution
When it comes to granting a customer credit, there are many factors to consider. Essentially, you want to know if they have a history of paying their creditors on time and whether or not they have the capacity to repay your account. To establish whether or not this is the case, most businesses utilise simple but effective credit checking processes, thus providing confidence that when the bill falls due their customer will have the money to pay the account.
Credit & cash flow lingo
Like any industry the credit and cash flow sectors have their own particular jargon. Following are definitions for some of the most common terms used on our site and within the credit and collections industry.
Don't fear a credit card
As a small business owner, you are constantly on the look out for ways to save money and reduce paperwork so you are probably thinking a small business credit card would be the last thing you need  - another bill, more paperwork and the chance of debt. In actual fact, it could help your business run more efficiently.
Making smarter credit decisions: the bigger picture
In today's volatile financial world, making credit decisions can be fraught with uncertainty. Companies are often caught in financial situations that can be difficult to identify by traditional means. Credit providers need the whole picture to make informed decisions to mitigate risk in their business.
Growing your business through credit
Many SMEs have shied away from the provision of credit concerned that it can result in all sorts of problems for business cash flow. This is absolutely true - extending credit can be a disaster if it is provided to customers that don't have the capacity or willingness to pay on time. It can also be a disaster if SMEs don't take the time to plan and prepare for the impacts that credit terms will have on their business.
Need a loan?
Looking to start or expand a small business You're going to need funding and for most this will require a business loan.
Get those debts paid a little more quickly
As a small business there are several things that can make the debt collection process a little easier and perhaps get the debt paid a little quicker. Here are some practical examples.
Evaluate your suppliers
For a small business, the value of researching and investigating customers before extending credit is well known, but small businesses often don't do the same for their suppliers.
Credit checking is still essential
With the economy continuing to improve and pressure being put on small businesses to increase sales as interest rates rise, it is  important to remember the value of obtaining credit checks.

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