When you sign up a new customer or client, it’s tempting to skip the formalities. New customers are always keen and it seems like nothing can go wrong. The last thing you want to do is sour the relationship, or risk losing a client to a competitor. If you ask for a deposit, are you at risk of scaring them away?

In truth, most businesses are used to paying deposits especially if they are dealing with freelancers or micro businesses, and there are plenty of good reasons that you should ask for one.

Read more: Four reasons you should ask your new client for a deposit

Most businesses have experienced the worry and inconvenience of a client that always pays late. Short of ditching the client (and we are perfectly comfortable with advocating that as a tactic), there’s no rapid solution to the problem. But you can improve your chances of getting paid if you subtly change your credit control processes.

In this article we will explore a few easy ways to help you manage those 'tricky' clients and the excuses they use to delay payment beyong agreed credit terms.

Read more: How to deal with a client that always pays late

This may seem obvious, but can your client or customer actually afford to pay your unpaid invoice? If they can afford to pay, will they pay on time (if at all)? The only way to get answers to these important questions is to source credit information, either from a third party provider or direct from Companies House.

If you are new to credit reports Safe Collections have some tips on how you can find the data you need to make an informed credit decision.

Read more: Can Your Client Pay?

If, despite your best efforts, you have invoices outstanding, don’t take it personally. According to research 88% of UK businesses have been affected by late payments.

So how does your company go about recovering the monies that are outstanding?

Read more: When All Else Fails - Debt Recovery