The team at Commercial Domestic Investigations are keen to help business owners deal with issues surrounding late payments, credit control and debt collection. This week were pleased to read about the release of the government backed Enterprise Bill.
The Enterprise Bill is designed to drive growth in the economy and create jobs, one of the areas that the bill has focussed heavily on is the issue of late payments and debts which are stopping the growth of many small businesses.
A clamp down
The bill calls for a clamp down on late payments and one of the methods for doing this is the creation of a Small Business Commissioner who will help small firms handle disputes over late payment with larger companies. The issue of late payment is estimated to cost small firms around £26.8 billion pounds per year.
Here at Commercial Domestic Investigations we specialise in debt collection and we help thousands of small business owners every year who are struggling with late or unpaid debts. We welcome any help the government can bring to assist small business owners with payment problems.
Small Business, Industry and Enterprise Minister Anna Soubry said: “Our Enterprise Bill will help tackle some of the biggest issues facing business today. Overzealous regulation and unacceptable late payments are just some of the issues targeted in a comprehensive package of measures designed to give a boost to the UK economy.
“This is about letting businesses get on with what they do best, while taking sensible action to support those that need it.”
Cutting red tape
The bill also aims to cut red tape for small business owners, another reason to welcome these changes. Regulators will in future be forced to report annually on any impact red tape changes have had to business owners.
Red tape can have a real financial impact on business owners, even if some of this can be useful to form best practice standards. One place we wouldn’t advise on cutting corners is debt collection and credit control, you should always seek advice from experts like Commercial Domestic Investigations.
If you think your business could benefit from our services please contact Commercial Domestic Investigations for an impartial and friendly chat about your needs. To keep up with the latest debt collection news remember to follow Commercial Domestic Investigations on Twitter.
About Commercial Domestic Investigations
Commercial Domestic Investigations are regarded within the debt collection and credit control industry as one of the best credit management companies in the UK. Established in 1988 to support and service all sizes of companies in the field of Credit Management.
Primarily our clients use our automated Debt Collection Services, but over the last eighteen years clients requirements have changed dramatically, something Commercial Domestic Investigations has addressed.
We now boast a national client base in excess of 30,000 companies. Commercial Domestic Investigations has grown by listening to clients’ requirements and adapting our services to meet all companies’ needs from Sole Traders, SMES, Ltd and Plus. Please contact us on 08444 159200 for more information.