Lunch and Learn: How to get paid on time in challenging economic times
Posted: Mon 15th Aug 2022
In this Lunch and Learn, Jo Gibson, customer engagement manager at BankiFi, and Laura Kinghorn, lead of business development at TSB Bank, share their top tips for getting paid faster, maintaining cash flow and accelerating business growth.
When you start your own business, you’re embarking on a journey to support yourself by doing something you truly love and gaining the freedom to chart your own course. But we know it isn’t always smooth sailing. One thing small business owners have historically struggled with is getting paid on time - or paid at all.
It is estimated that small businesses are owed more than £23.4 billion in unpaid invoices and that 50,000 businesses close every year as a result of late payment. From making the switch to digital invoices to accepting multiple forms of payment, several ways may help you collect your customer payments faster for years to come and the continued success of your business.
Key takeaways from this session:
Ways to get paid faster and defeat outstanding invoices
The necessary steps a small business must take to ensure they are managing their cash flow effectively to allow the business to grow