Top Ways to Avoid Debt in Your Business

Whether you are a start-up venture or an established business, a bad debt could paralyze your operations and bring your enterprise to a standstill. In many cases, bad debt is the result of customer insolvency or a prolonged default. When that happens, many businesses find themselves in a bad financial position, even without the power to seek legal action against the defaulters. It is, therefore, imperative for business owners, both small and big to devise ways of managing bad debt in their enterprises. For instance, you could learn more about export credit insurance by

Based on recent figures, insolvency robs many businesses to the tune of billions of dollars. For example, in the UK alone, the insolvency rate shot by 13% in June 2016. To be on the safe side, here are some ways that you could implement to help you manage debt.

Assess your customers’ credit worthiness

In addition to what you may learn about export credit insurance by, it is advisable to check credit worthiness of a customer before you engage in any credit deal. It is possible to check the information online. For example, new customers should get a lower credit and you should be able to confirm that they will pay on time.

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Set clear terms and conditions

This may require support from professional advisers. Your customers should be aware of the terms and conditions and agree to them. You can make them public on your website. A copy of your terms and conditions should also appear on your invoices and receipts. You may include a clause that states the goods belong to you until the customer pays for them in full. This could help urge your customers to pay promptly.

Have a clear strategy

When a customer delays payment, it is advisable to work with a clear strategy to mitigate debt. For example, you could write off small debts or freeze a customer’s account to prevent further purchases before settling the debt. Click here

Engage expert advisers

On matters relating to credit finance, it is advisable to seek expert advice. This is important if you have tried to recover your debts with little or no success. With an expert adviser, you could explore other means of recovering your money such as collection agencies. Alternatively, the expert could decide to pursue the debts on your behalf. Debts of small amounts could be tracked faster to pave way for dealing with major balances.

Understand your customers

Finally, yet importantly, it is advisable to understand your customers and set appropriate credit limits. It is also advisable to keep a ledger book, which you should inspect regularly to determine any warning sign that may lead to bad debts. Customers who are having difficulty in paying in a lump sum could pay in small bits that they are able to manage.

Dealing with bad debt requires proper planning and expert advice. With the tips mentioned here, you could be able to minimize the chances of falling into the trap. For more information on export credit insurance by, visit the website shown here. For more details, just visit at

Relevance of Mortgage Brokers in the Real Estate Market

 Buying a new home or reconstructing your existing home is one of the biggest and crucial decisions of your lifetime. While taking such a crucial decision, mortgage loan is one of the issues that always haunt your mind. As you know, there are hundreds of mortgage lenders. Each of the mortgage lender claims to provide you the loan at reasonable rates of interest.  Here comes the importance of a mortgage broker Tamworth market has today. As IBISWorld of Australia points out, it is the mortgage broker who provides comprehensive and unbiased advice to the mortgage loan aspirants. This helps the loan aspirants to get the mortgage loan at the most competitive rate of interest.

A perfect guide:

Naturally, the mortgage broker is your guide who would liaise between you and the lender. As a matter of fact, you can avail the mortgage loan even without the assistance of a mortgage broker Tamworth has. But, given the various types of mortgage loans offered by each of the financial institutions, you may not be able to shortlist the loan that suits your requirements. On the other hand, the mortgage broker will have thorough knowledge of loans offered by each financial institution. The broker, after ascertaining your requirements and your repayment capability, will be in a position to advise you so that you would get the mortgage loan at a reasonable rate of interest and with comfortable terms.

Makes all the paperwork on your behalf:

Normally, a mortgage broker Tamworth market has today will not charge you for the assistance rendered in securing the loan. The broker collects the commission from the lender directly. Naturally, this helps you to save a considerable amount of money. Moreover, apart from advising you about the suitability of any particular mortgage loan, the broker will also make all the paperwork on your behalf. In short, the broker will ensure that you secure your mortgage loan without any impediments. Yes, this is the kind of service that you expected from the mortgage broker.

Growth of mortgage broker market:

The 2015 Mortgage Brokers Benchmarking report points out that now mortgage brokerage accounts for nearly 50% of all loans in Australia. During the fourth quarter of 2015, the outstanding residential mortgage in Australia was expected to be Australian $1.5 trillion. It is also noted that during 2015, the annual growth rate of mortgage loan showed an improvement of nearly 7%. Considering the further growth in the real estate market of Australia, the IBIS and also the Property Investment Professionals of Australia (PIPA) have pointed out that in the next two years, the mortgage brokers’ market is expected to grow further. Click here Tamworth Home Loans

Effective regulatory strategy:

Despite this phenomenal growth, some financial experts had cautioned access to liquidity. But, effective and robust regulatory strategy will ensure effective implementation of liquidity norms on outstanding mortgage loans.

Look for a licensed broker:

All these highlight the importance and the crucial role of mortgage brokers in the financial market of Australia. According to the National Consumer Credit Protection Regulation 2010 of Australia, every broker should obtain license from the appropriate authorities. Therefore, before availing the services of mortgage brokers, you should ensure the broker is licensed and accredited to the appropriate regulatory agency. For more details, just visit at