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Offering
Credit
Often the only way to clinch a business deal is by offering
30 days credit; many organisations take it for granted that you
will be offering them credit and will take credit without
asking. If you complain or change this arrangement, you
could end up in debt. Therefore it might prove wise to find
out how your business could give credit: what to look for, the
pits falls and the how to check the company out before they take liberties.
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Late Payment
of Commercial Debts
November 2000 saw the introduction of the Late Payment of
Commercial Debts Act to give small businesses the muscle to change
interest on late payment. Up until then, there was no law to
back charging interest on the smaller business, well now there
is. So if you would like to use its power, this section
explains the the act in plain English and discusses how you could implement
it in your business.
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