Once you set up in business it will be essential to manage your money. So how would you handle credit management? Colin Porter explains the importance of debtor assessment
One of the many benefits of being a franchisee includes the ability to call on the specialised and highly-skilled knowledge and experience of the franchisorâ€™s head office. This support can greatly reduce a franchiseeâ€™s business risks, however itâ€™s important to remain vigilant against bad debtors and ensure your credit management is up to scratch.
In recent months, the Australian Securities and Investments Commission (ASIC) has identified a serious increase in the number of companies going into administration or being wound up.