Receivables, Receivables, Receivables

The frustration for any micro or small business is being paid. This is our current dilemma. The slowdown in business has made us tighten on everything from driving less to not eating out with family. I feel like this would be the case for any company we deal with, if in the same dilemma. Not true.

Being a micro-business can be very tough when customers don't pay their bills. We can't afford to get a court involved and our receivables aren't large enough to pay fees for a receivables loan or something similar. You can send letters and make phone calls until your blue in the face, but you will always get the same answer...the check is in the mail. 
Our business is very small and we count on every dollar....literally! We will track down a single dollar if necessary. We as a company continue to pay our bills. We cut costs and use credit cards if possible, but we always pay or we call our vendors and are honest. They will usually be very forgiving and take whatever we can give at the time. We rarely get this courtesy. 
It can be frustrating on many levels. You provide a needed service that isn't compensated. Chasing money is not our business. Our business is metal fabrication. We fabricate, you pay...that's the deal.
Posted on April 9, 2010 and filed under Micro-Business, Sheet Metal.