As for maintaining or restoring a healthy accounts receivable portfolio, companies may need to invest in additional personnel or outside services with expertise in delinquent debt collection. If a company’s receivables are large enough and they have a budget which allows them to add experienced, full-time debt collectors to their staff, they should make investment in additional personnel. If a company can’t afford it or their delinquent receivables don’t require full-time attention, outsourcing would be a better alternative.

National Revenue Corporation is a collections agency that specializes in “preventative maintenance” collections strategies. They offer variety of low, fixed fee solutions that make it attractive for businesses to employ their services to perform collections on delinquent accounts right as they become delinquent. They provide necessary expertise to collect on harder, delinquent accounts, while their client’s staff focuses its efforts on more current, easier to collect accounts. With this approach, both current and delinquent account collections improve yielding improved cash flow and a well-balanced accounts receivable portfolio.

Choosing a business idea that already exists gives you proof that idea works. However it also gives you ready made competition. However there are ways of getting around this which fall into arena of marketing (we will save this for another time).

When people buy franchises they are buying an "off shelf" business. This is great for having everything done and ready for you but it is also very expensive. A franchise may cost upwards of £10,000.

Getting started on Internet is infinitely easier and a lot less expensive. In fact you can do it for under £500.

Hope you enjoyed these tips. The next email will discuss personal essentials to success in business.