Knowing how to extend and manage credit can mean the difference between a profitable small business and a bankrupt one. A problem borrower is a dangerous nuisance that wastes your time and money, and raises the specter of potential litigation. That makes Suzanne Caplan’s book on managing cash flows and credit particularly useful. This straightforward manual presents clear information, including sample collection letters and step-by-step suggestions on resolving collection issues. Caplan uses real-life examples to supplement her ample basic information on issuing credit and collecting payment. getAbstract finds that her practical book can help small business owners or managers dodge the hazards of poor credit practices.
In this summary, you will learn
- How to grant and use credit in a small business;
- How to reduce the risk of nonpayment; and 3
- How to improve your collections process.
About the Author
Suzanne Caplan, a 20-year CEO for a small manufacturing company, is a frequent speaker and a small-business consultant. She also wrote Turn Your Business Around!, The Small Business Insider’s Guide to Bankers and Streetwise Finance and Accounting for Entrepreneurs.