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Collections Department

Dunning customers for overdue accounts isn’t a favorite task for any small-business owner. And when customers simply fail to respond to your efforts to collect, it may be time for a collection agency to step in. Agencies generally assume all collection responsibilities. For those services they typically charge 25 to 40 percent of the amount they collect. If they don’t collect the debt, the agency usually doesn’t charge you for the work. Using a collection agency should be your last resort. Be sure you understand their collection methods and charges before you turn over your past-due accounts.
 

Back In Biz

For many small enterprises the economic slowdown is giving way and business is picking up again. If you’re one of those lucky owners, be cautious about ramping up your business too quickly. Instead of hiring new employees, consider outsourcing some of your work to independent contractors until you’re sure the upswing is here to stay. Outsourcing can save you money on fringe benefits and payroll taxes. It can also save you time in finding and hiring the right job candidate. To find out more about the rewards and risks of outsourcing, check out the Success Skills Seminar Outsource Your Way To A Better Small Business.
 

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