International recruitment debt collected
An international recruitment company recently passed us a £53.5k debt owed by one of their customers consisting over several invoices. The invoices were dating back as far as 6 months and there was a dispute over payment terms between our client and their customer, tied in with the debtor appearing to have cash-flow problems. Our […]
Meet us at the Recruitment Agency Expo 2018 – London – 31st Jan – 1st Feb
We look forward to meeting our existing clients, and anyone who has an interest in discussing how we can assist their business. Please use our contact us form to get in touch beforehand and schedule a meeting or just visit us at the expo, stand C5.
A third of payments to small businesses are late !
The government has today (20 December 2017) launched the complaint handling service of the Small Business Commissioner to ensure fair payment practices for small businesses. This follows the appointment of Paul Uppal to the role of Small Business Commissioner. source: https://www.gov.uk/government/news/government-launches-small-business-commissioner-to-help-small-firms-resolve-payment-disputes
‘protecting client relationships’ is the most cited reason for not chasing late payments…
The UK currently has the highest proportion of invoices that are paid late, with 9% written off as bad debt. Alan Laing, United Kingdom & Ireland Managing Director at Sage, said, “In 2017, it is totally unacceptable for 18% of all payments paid to Small and Medium businesses to be paid late. Entrepreneurs rely on […]
How to avoid the risks of upfront payment for recovering a debt
This recent client highlights an important point which is often overlooked when a company requires assistance with recovering a payment from a debtor. Our client had tried collecting a payment owed to them using a debt recovery solicitor firm who offered sending a free letter to the debtor. The debtor did not respond to the […]
Terms in place, candidate introduced and employed. And you’re still spending time chasing the overdue fee?
Terms negotiated, candidate introduced and employed, payment for the placement not received within terms and the debtor still expects a rebate when you chase them for payment??? Sound familiar? Here’s a look at a situation we’ve dealt with recently which didn’t cost our client anything upfront, no win – no fee commission debt recovery basis. […]
HIRABL closes for business, Sterling develops their own backdoor hire discovery system.
After 4 years of promotion HIRABL was well known in the recruitment sector, however the business has now closed with CEO Nick Ellis stating “Monitoring for backdoor hires is a valuable service for recruitment agencies, but ultimately a niche business that did not warrant venture capital investment. As a result, we’ve decided to wind down […]
A Quick Turnaround – Recruitment Debt Success Story
Our client, a large recruitment consultancy firm, had spent months chasing payment from a debtor who had made it clear they had no intention of paying what they owed. Sterling were passed the debt to collect, invoice value £19k. After speaking with our client to gather the required facts, clearly understand their process, the candidate […]
Bank of England raises interest rate to 0.5%
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 1 November 2017, the MPC voted by a majority of 7-2 to increase Bank Rate by 0.25 percentage points, to 0.5%. The […]
Small business commissioner – Late payment Tsar appointed
The appointment of the father-of-three from Birmingham marks an important step toward ensuring small businesses have the support they need to thrive and grow – a central tenet of the Government’s Industrial Strategy. As Commissioner, Mr Uppal will lead an independent office tasked with empowering small businesses. The role will be crucial to supporting small […]