LatePAID

Late payment of commerical debt

Cash flow is all too important in the current economic times. It's important to stay on top of debtors, its important to have terms and conditions on invoices and its still important for Blue Autumn to continue its legal action in regard to being paid late by Fourseasons healthcare.

Just noticed we got a mention in the Fpb Autumn edition.

Business edition

Blue Autumn on the Warpath over latepayments

Blue Autumn Ltd has issued a high court writ against Fourseasons healthcare for latepayments. Read what has been said by the daily telegraph. On the Warpath !

Apple being sued over late payment

Read article , apple being sued over late payments

Late payment by Big Business strangling small Business

 Late payment strangles small business

Firms hit hard by late payers

" The scale of late payments has grown in value despite companies investing a significant amount of time and money to stop the problem "

Fourseasons Healthcare, opens new homes, but how ?

Fourseasons plan to open a new home in Limavady, as stated in this article., but where are they getting the money from if they can't pay their debts ?

Seems very strange that they continue to expand, especially as the cupboard is empty. Should they not pay their debts before opening any new homes. Maybe this happens when you have no money you continue to splash out !!!  Building business by paying suppliers late, building on other peoples money, an old trick, stretch the credit. This is where the latepayment legalisation comes in, pay on time or else we will enforce our rights.

If this company goes bust the Northern Ireland assembly should consider moves to break this groups monopoly of care in Northern Ireland, but lets wait and see what happens, but I do believe that they maybe are too big for the Northern Ireland market and that the care of our relatives would be better catered for by the smaller groups and individuals.

Fourseasons Healthcare, nursing homes refinance problems

Fourseasons as all those involved in the care home business know are a major player in the UK nursing home market. I recently saw this article on the group's troubles.

Firms Hammered by Late Payments

Firms hammered by Late Payments !

I saw this article in the sunday times.

Another sign as to how cash flow can be affected by late payments and the effects this late payment can have on a business.Still no mention here of using the late payment legalisation, maybe things might be different if this was implemented.

How many small business have not heard of this legalisation and their rights under it ?

Lots I guess

Banking Advice 1935 PS: Be Cautious in letting money out in book debts

I came across an old letter from Ulster Bank Ltd, that I thought I would share here.

Its advice given in 1935 to a new Belfast firm, called Allen, Burton & Colbert. Mens wear & uniforms suppliers. I guess if banks had of given this sort of advice today, things might have been different in the credit markets.

Payment Pledge for Small Firms

Payment within 10 days !

The government pledges to pay all its invoices ' as soon as possible ' to ease small businesses' funding crisis.

It aims to pay all its bills within 30 days but Mr Brown promised it would pay small and medium -sized businesses within 10.

At last ! The sort of news small businessess' have been waiting for, instead of waiting 45, 90, 120 days for payment we have a pledge for payment within 10. I wonder how long this will be the case, lets hope the days of late payment from government bodies is gone.

About time those big private companies took notice too !. The days are gone or going when businesses can take credit terms to suit themselves. Watch this space !!!!