Are you a business owner plotting a course through the difficult and economic conditions and uncertain political times?
A wide range of businesses can feel the pinch during a recession, and are therefore more likely to seek to extend credit terms to give themselves breathing space. So, creditors need to chase payments more aggressively than usual using the Dunning Cycle. That in turn may even culminate in the issuing of Court Proceedings.
So businesses reach that late stage more often during a recession. However, can they sanction the expenditure for recovery of monies owed – especially where issues have been raised about the quality of goods supplied or services performed?
There is after all a wide range of everyday disputes for SMEs to negotiate. There could be a problem with the Bank, Personal Guarantees given by Directors, or franchising disputes, in addition to bad debtors and a variety of trade disputes.
So how can we help SMEs with cashflow issues or business disputes? We seek at Thursfields to gain a detailed understanding of our clients’ businesses and the common issues they face. That enables us to offer practical business advice, if possible before problems arise.
We offer a range of funding options in the event of a matter going to Court. That way, we can minimise for our clients the exposure to risk, and the expense of legal costs.
If you have a problem with a business debt or dispute, please contact Tim Lawrence at Thursfields on a no obligation basis on 01905 677055.