Business owners are telling us similar things.
Lindsay Hill, Business Support Specialist at EC Credit Control in Wellington talks to business owners daily about situations where their cash flow has been affected due to limited or no contracts with their clients.
“It’s often the smaller businesses I talk to that say they have been meaning to tighten their processes, and it’s not until the unexpected happens to either them or their peers that it hits home how important it is to ensure you safeguard your business now, not tomorrow,” says Lindsay.
Craig Robertson, owner of Bespoke Wooden Solutions Ltd in Porirua is one such business who sees the benefits of having Terms and Conditions of Trade from EC Credit Control in place and how they helped his business for the better.
Tailor-made terms for a bespoke business.
Craig started his business 7-years ago, creating outdoor living solutions, such as decks, fences, pergolas, and planters in the residential space. His business quickly grew, to employing 6 staff full-time and as his team grew so did the need for greater protection. Craig realised that the terms he was using weren’t up to scratch as he also wanted to look more professional.
Craig Robertson, Owner of Bespoke Wooden Furniture and Lindsay Hill from EC Credit Control.
Not having terms and conditions of trade tailored to his business could have affected his cash flow, particularly when increasing material costs, time delays, and higher transportation costs are still an issue and can lead to advising customers of a variation in pricing.
Not supplying payment terms to clients upfront or specifying your terms when it comes to pricing changes in robust documentation could really hinder your operation, and lead to disputes – ultimately making business owners out of pocket.
Business owners country-wide are seeing a slowdown in cash flow, Craig has noted this too, saying that others in the Wellington industry are also facing a lack of work. With that said, Lindsay and the team at EC Credit Control are dedicated to making sure businesses in the region are protected as much as possible.
Dealing with disputes, a slow-down or lack of payment can be such a time waster to you and your team. In Craigs’ case, he wears many hats, not only is he the Owner of this business but he is also the Administrator, Managing Director, Sales Rep, and Operations Manager.
Having Terms and Conditions of Trade along with a Residential Building Contract from EC Credit Control has allowed him less time on admin, and more time to focus on his business.
Thank you to Craig Robertson from Bespoke Wooden Solutions Ltd for participating in this story.
Do you want peace of mind like Craig? Talk to the team at EC Credit Control. We are the professionals with over 30 years of experience by your side.
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