The rise in jobs certainly shows that the economy is improving as 160,000 jobs have been taken up in the three months to May. However this rise is given by part-time jobs and self-employment while full-time personnel numbers have dropped by 22,000 to 18.2 million. This could help businesses in that part-time labour could well have reduced costs and so the businesses could save money, but the small enterprise is not to know if the large enterprise concerned is in this position. The best path for the small enterprise is to speak with the large enterprise and get to know what is happening with the invoice and take it from there. If the outcome is unacceptable then the small enterprise could well feel fully justified in looking at Debt Collection proceedings. The small enterprise should take care when checking out the Debt Collection market, since the economic climate has seen an increase in the numbers of Debt Collection Agencies and legal practices that are offering commercial Debt Collection. The issue is that this rise could be due to the increased number of bad debts that an economic downturn brings and the motives of these newer Debt Collection Agencies and legal practices could not be ethical. This causes difficulties for the small enterprise in that they could not be able to differentiate between good and bad Debt Collection Agencies and legal practices, and so could end up losing out.
A safer Debt Collection path and one that has a much reduced price tag than Debt Collection Agencies and legal practices is Debt Collection Software, which will permit the small enterprise to take on the Debt Collection project with their available resources. This has positives in that the small enterprise is in control of the dealings with the large enterprise and so can take care not to ruin the working relationship that could have built up. Also they will know what outlay is involved and should not get any unexpected bills. A decent Debt Collection Software system can be had for around £40, whereas Debt Collection Agencies and legal practices charge from 10% to 20% or more of the invoice value as their fee, so any debt over £400 and the small enterprise has saved money with Debt Collection Software. Also, they can use their Debt Collection Software system for any future debts with little or no extra outlay.
Naturally the small enterprise will have to provide their own resources to both operate the Debt Collection Software and to write the all important Debt Collection letters. Their main resource will be members of staff and for writing the Debt Collection letters, the members of staff chosen should have a good command of English so that there won’t be any oversights on the Debt Collection letters that are sent to the large enterprise. Such a thing could disrupt the Debt Collection procedure and also put the small enterprise in a bad light.
So, if the small enterprise is prepared to take the risk and devote their energies to the Debt Collection Software they should be able to encourage the large enterprise to pay the invoice, all for a lower price than that charged by Debt Collection Agencies or legal practices.