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Now that the Rain has stopped, don't let your Business Drown in Bad Debt!

by Michelle Dunn

We have had an unusual amount of rain this year followed by hotter than normal temperatures here in New Hampshire. Normally we don't notice the rain or heat unless they directly affect us or are unusual, like this season.

We have had an unusual amount of rain this year followed by hotter than normal temperatures here in New Hampshire. Normally we don't notice the rain or heat unless they directly affect us or are unusual, like this season.

This is also true with small or new business owners. Unless they have unusual circumstances, such as a bad check, or non-payment of a large balance they don't pay much attention to the credit end of their business. Most business owners do not plan or create rules about what to do when they receive a bad check until they are holding a bad check in their hand. In my 17 years as a bill collector most business owners that I dealt with only realized they had a problem once it was to late. Do not let this happen to you.

There are easy steps you can take to avoid this from happening to you and your business.
"One of the easiest and smartest things you can do for yourself and for your business is to implement a credit policy and have each new customer fill out a credit application" says Dunn. "A credit application will protect you and your business and let your customers knows that you mean business. Done correctly, it can increase your overall profits and sales now and in the future."

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