Fastback Parcel Solutions said:
No its not bad planning at all... What are you saying that now we have to build in bad payers on an even bigger scale than we already do, and just because its always been this way doesn't mean it has to stay this way, i am sick and tired of extending credit to companies, I have done the job you so urgently wanted doing now pay the bloody bill on time. Yep I get wound up about this paying on time malarkey and your complacency makes me even more angry
, usually find its the late payers or non payers that whinge most about factoring companies and no I don't use one I deal with it myself. Rant over.
I hope you are not aiming that at my company?
We ALWAYS pay on time, and have paid almost instantly to help folk out that are struggling!
What I am trying to say is ... YES it is, and has always been a problem with companies hanging on to their money. I agree with you it is not right, but that is how it is, and because of this, planning should have been factored in to allow for this anomaly. The main reason new start ups go bust is because of bad planning.
I would say it is almost impossible to succeed on a shoe string!
I can also assure you that the larger [in most cases] the company, their financial advisers dictate that invoices are only paid at the 'last minute'
It is no use moaning about it, the only way things will alter is with a change in legislation!
I am certainly not a 'late payer' but I would sooner not be involved in dealing with Invoices that are factored, the Banks and Factoring companies like 'Bibby' etc are nothing but a pain in the ass!
Good luck to anyone who gets involved, as they will find it almost impossible to get out of the thieving barstewards clutches!