Are your creditors helping your business?
Your relationship with your suppliers is just as important as your relationship with your customers. Strong relationships with your suppliers can lead to better service, better pricing and understanding when you experience troubled times.
To strengthen theses relationships you can establish a preferred supplier database. The idea behind this is to focus a majority of goods and services through one preferred supplier but have backup suppliers for when complications arise .
You can place more demands on your suppliers when making them your preferred suppliers. Demands such as bigger discounts for volumes, priority shipping or support.
These preferred suppliers now need to be measured to ensure they are providing you with the best pricing and service since you are giving them all your business.
Tips For Managing Creditors You Cannot Afford to Pay
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By Steve J Jackson
If you owe money that you cannot afford to repay, it can be a very stressful and worrying time. Ultimately although it is often nerve racking, you must speak to your creditors, explain your situation to them and agree with them how you will repay what you owe.