When working with clients who are based overseas, there are several things you should take into account - ideally, from the moment you begin working for them, rather than later in the process when you encounter a previously unconsidered obstacle.
Here are some of the main issues at hand, and how you can work around them, or even with them, to make the best possible client relationship.
Making sure you get paid promptly every time, without fail, is about more than just issuing invoices promptly (although that can help).
There are several ways to increase your chance of receiving payment in full and on time - and here are some of the main points to consider.
Business overdrafts have been called the 'hidden credit crunch' following the news that while traditional bank business loans have fallen 9% in the past two years, the banks have called in 23% of overdrafts in the same period.
The figures come from a report by finance providers LDF, who say traditional bank business loans fell from £187 billion to £170 billion in the two years to March 2014, while overdrafts fell from £18.2 billion to £14.1 billion.
An unpaid invoice is a nightmare we would all prefer to avoid, but you're not necessarily just at the whim of your customers when it comes to whether or not you get paid on time.
It's also important to make sure you are invoicing properly - from the moment you take on a new customer, to how you deal with late payments - so you don't lose a single penny through your own fault and poor admin procedures.
