Banks sell debt for pennies on the dollar on a shadowy speculative market of debt buyers who then turn around and try to collect the full amount from debtors.
A survey by Bibby Financial Services last year found 25 per cent of small business experienced serious cash flow shortages in the previous 12 months due to late payment by customers.
Research by the Consumer Credit Counselling Service (CCCS) exclusively for The Independent shows that the average personal debt of a small business owner or self-employed person stands at £30,514, compared to an average for the debt charity’s clients of just £20,023.
Consider the depth of the crisis that America’s budding entrepreneurs are up against.
As the nation’s leader in field contact services since 1992, NCCI provides the face-to-face contact solutions you need to effectively reconnect with customers and gather information vital to your success.
Verified Direct is the Marketing Company for VerifiedDebt®.
How to market VerifiedDebt® in your town
Choose a method to Advertise as a brand builder.
Among the 11 percent of consumers who claim they have an increased ability to put funds into savings, 46 percent have decreased the use of their credit cards, and 51 percent have decreased their spending on discretionary goods, such as entertainment, travel, luxury items and cars.
“The small business credit issue is multi-faceted,”.
Be realistic on staffing.