The major challenge for most business owners is the idea of late payments from customers that require debt recovery. When operating a business, it is important to take your account receivables seriously because it can close down your business when customers don’t pay their bills. Generally, debt recovery has to be initiated when an invoice is more than three months overdue. It is certainly not easy to recover money from a delinquent customer who decides not to pay. The process can be long, difficult and arduous because many customers will ignore your phone calls, notices in the mail and email messages.
In the most recent past, the economy in Quebec was being held back primarily by a weakened export industry and frail investments in business. The Finance Minister of the province indicated that he will take the necessary steps allowed by the government to try to improve the situation, if it continues. Since the previous governor of the Bank of Canada, Mr. Carney made accusations in 2012 about Corporate Canada not using the piles of money it had to improve the economy in order to create jobs, nothing seemed to have changed.
Businesses often need financing at many different stages of the game, and luckily, there are finance options available no matter where your business is currently at. Whether you’re looking to start a business and need the money to make it happen or you’ve found yourself in a tough spot and need some help to get through it, or anything in between, it’s important for you to know about the different options that are available to you so that you can choose the absolute best ones to meet your specific needs and goals.