When you run a business you have a professional expectation that you will be paid by clients on time and in line with the payment terms specified on your invoice. However, this isn’t always the case. Unpaid debts can have a severe impact on the health of your business. Chasing debts is stressful, wastes your time and negatively affects your profits. Healthy cash flow is the lifeblood of your business and debt can leave you fearful for the future. Here we talk about how to manage and recover the debt to minimize the impact on your business.
It has long been apparent to anyone with an ounce of business sense that, by and large, partnerships are not the best way to run a company. There are, naturally, exceptions and I am not going to take issue with the profitability of the ‘magic circle’ firms that would be eligible for inclusion in the FTSE100 were they to have publicly traded shares. They have all said, however, they would not seek to float. There are probably many reasons for this, most of which I couldn’t hope to understand. But I bet one of them is because the partners of those firms rather like being partners in those firms.