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
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 low [...]
Avoid debt risk 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 [...]
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. After [...]
Check for back door hires 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 [...]
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 introduction [...]
Interest rates rising 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 [...]
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 businesses [...]
Aims of the protocol and who it applies to: On 1st October 2017 it became a requirement for any business including sole traders and public bodies, to adhere to a new Pre-Action Protocol for debt claims. This means that all businesses must carry out a stringent process prior to submitting a legal claim for an outstanding [...]
The service is carried out entirely in your brand by your named experienced credit controller(s). Whilst many of our competitors use remote workers, all of Sterling’s staff work from our service centre under a team leader and service manager. Cover for absence is provided in each team so the service runs each week consistently without fail. [...]
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