Managing credit risk is not for the faint of heart: 90% of contractors will fail in the first ten years of business, and most of these contractors will fail within the first three*. The question of bad debt is really not a matter of if, but when it will happen to you and how badly.
The key to protecting yourself is to understand the difference between a customer who is having a temporary dip and someone who is becoming a dangerous credit risk. This article provides ways to identify when a customer is potentially becoming a dangerous credit risk, and what you can do about it.
About the AuthorMore Content by Scott Simpson