By Sean Melbourne and Christina Guo, Source Legal. This article was originally published in Inside Business.
Sending invoices as a small business can feel like you’re dropping them into a void, while watching your savings diminish as you wait to be paid. According to a report by credit specialists Dun & Bradstreet, the average late payment time for businesses in Q1 2017 was 15.3 days late, and even higher for payments by big businesses to small businesses – 18.3 days late.
If you are owed money, here are five steps to get back in the black.