For me l have realised that most businesses can't survive without taking loans or selling in credits. How can you avoid bad debts in business?
What are the most proactive measures to avoid bad debts in a busses s?
- Thread starter Stardom22
- Start date
if possible sell only on cash basis. you need to sell in little quantities to debtors. Give them deadline to pay up and follow it up
If you are selling on credit to some customers, better follow up closely on their payment. If they do not pay on time, send reminders or take legal action.
You as a business owner can avoid bad debts in various ways such as a stricter credit policy, collect regularly, provide incentives if they pay on time, work with a collection service, or work with a Pay later platform,
You nerf to keep borrowers and debtors away from your business. you can't have these people and don't have bad debt.
