Credit? Check! SMEs tend to shy away from doing credit checks because they seem to think they should be grateful for any business at all. However, not checking up on a customer might hinder your cash flow down the track, so it’s best to nip it in the bud by including a credit check in your payment policy.
Let all your customers know that you do a credit check on everyone as a matter of policy so they don’t feel as if you don’t trust them. If a customer fails a credit check, give them a chance to secure credit through other means instead of potentially losing their business.
