Category

Small Business

Collections and working with the right type of customer: Learning from supplier best practices

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Suppliers are constantly faced with two tasks: acquiring new paying accounts and satisfying the needs of their repeat customers. The two are related to one another. When dealing with new accounts, suppliers should focus on developing a lasting relationship with their customers. There are 3 steps suppliers take en route to converting new accounts into satisfied repeat customers. Select Credible Customers KYC (Know Your Customer) Structure the payment plan Select Credible Customers Before accepting business from a new customer, suppliers…

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Small and medium businesses are the economic engine of the economy

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Companies with less than 20 employees accounted for 42% of new jobs created in 2013. And when you count businesses up to 499 employees, that number goes even higher (64% of total job growth, April 2013). Starting back as far as 2009, it was a mathematical inevitability that the economic recovery would be lead by SMBs. Paul Kedrosky used the metaphor of a drunkard’s walk to describe how SMBs would fuel the job economy. An inebriated bar-goer, leaving a bar…

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