Big Business Bullys

[Rob]

More evidence is coming out about the ongoing impact of the economic downturn. In my blog yesterday (http://www.smallbusinesssuccess.biz/forum/blog.php?u=2&m=7&y=2008&d=21) I featured news that big businesses are substantially changing terms of trade in their favour.

In the example given a large UK firm not only extended payment dates but also imposed a deduction in the form of a 2.5% 'settlement' fee when paying the invoice!

Just shows the downside of dealing with larger businesses; small businesses have little or no leverage to fight back.

[lady macbeth]

wow am I glad that I dont deal with Boots! At least I might have SOME protection from this dealing with mainly local govt but I cant believe that things like that are allowed to happen with us little uns having no real protection.

I have just added a paragraph to my invoices stating that we will charge interest on over due payments - but whether I actually ever dare do so is debateable I spose.

At the moment I am really falling out with a large educational institution who only really contact us once a year - then want everything doing yesterday but take months to pay. Just as well the invoices are usually under £300!!!

I am considering telling them pro-forma next time due to bad payment terms but I think following the row I had with a young lady there yesterday I might not hear from them again anyway lol They wont be missed !

[CIDCouriers-dot-com]

I have just added a paragraph to my invoices stating that we will charge interest on over due payments - but whether I actually ever dare do so is debateable I spose.

I have that written into my terms and conditions, always have, I have tried to make sure every eventuality is covered in my T&Cs - though no doubt I'll end up sometime where I've missed something... :o

Although it's in my t&c, I've never actually charged the interest or the "administration" fee that you're allowed to yet!