If your business doesn’t lay the right groundwork when working with customers, you’re leaving yourself wide open to the risk that you’ll never get paid at all. Time and again, we hear of well-meaning companies putting in in hours of labour - and investing into raw materials - only to find that their customer doesn’t have the means to pay the bill.

According to National Statistics, 4,547 companies entered insolvency in Q2 2017. And over the next few years, we foresee a turbulent time for small companies which could increase this figure significantly. If you don’t yet have full understanding of the companies you're dealing with, and their creditworthiness, your business could be just a few short months from a serious cashflow crisis.

Safe Collections is pleased to offer half-price credit reports from Experian. You pay just £9.99 to check the official credit report for your client; a small fee, but a big weight off your mind.

Read more: 50% Off Experian Credit Reports

After Monarch went bankrupt and left thousands of passengers stranded, it looks like Air Berlin, the second largest German airline, looks likely to be the next carrier to close down operations.

While Air Berlin is fizzing out slowly, in contrast to Monarch’s overnight collapse, as many as 9,000 redundancies are expected once it finally winds up with many small and medium sized suppliers braced for significant losses.

Read more: Air Berlin Grounded By Insolvency

It is every supplier’s worst nightmare. You have finally secured a lucrative contract with a big name global brand, giving you what feels like a sense of security and assurance for future earnings.

Then, all of a sudden, the unthinkable happens - the company goes bust. From a position of relative comfort, you now find yourself at the back of a long queue chasing unpaid invoices you may well never recover.

Depending on how reliant your business is on that one big client, you could easily find yourself in jeopardy too, unable to absorb the loss.

Read more: Monarch and Toys R Us Prove No Brand Is Too Big to Fail

Reports that Canadian subscription box supplier Nerd Block has gone to the wall is bad news for an army of suppliers waiting on months of unpaid invoices.

Subscription boxes are big business, and the market is growing by the day. With the success of major brands such as Loot Crate charging £20 or more for a monthly box of goodies delivered to your door, similar companies have sprung up around the world.

Read more: Nerd Block Suppliers Set for Big Losses