As a small business owner or a freelancer, cash flow is always going to be at the forefront of your mind. You need to keep money flowing through your business, to keep it growing the way you really want it to. Many small business owners and freelancers hit a roadblock with that, however, when it comes to the issue of unpaid invoices. How damaging can they be, and can you avoid dealing with them?
The problem with unpaid invoices
In an ideal world you would create your invoice for your service, and when the service has been provided your client would immediately pay what you're owed. While that will be true for a large majority of your clients, there are always going to be some clients who either pay their invoices far too late or just don't pay at all.
This creates a problem for you. Small businesses and freelancers don't have the time it takes to constantly chase up unpaid invoices - calling, emailing, messaging multiple times a day will eat into your time. The problem gets even worse when you begin encountering several clients who haven't paid their invoices on time.
The problems with this are obvious - number one, you don't have the time you need to properly run your business because you're too busy chasing invoices or number two you just don't get paid.
Is there another option open to you?
This is where a business like Penny Freedom comes into play, to help small business owners and freelancers establish a much more dependable and reliable cash flow through their business.
In effect, the invoice is "bought" from you, for a slight margin less than its full amount. That means you get paid within 24 hours, and you are always guaranteed to get what you're owed. It's then not your problem anymore if the client doesn't pay that invoice, because you've already been paid and don't have to chase it up.
Reliable, dependable income is the most important thing as a freelance or small business owner. And a service like Penny offers you exactly that - get paid reliably and watch your business grow.