In today’s volatile economic climate, maintaining strong cash flow isn’t just good practice — it’s critical to business survival. For SMEs in particular, the ability to convert invoices into working capital can be the difference between growth and collapse. Uday Patel, Partner at Judge & Priestley LLP, works closely with business owners facing the pressures of late payments and debt recovery. In this article, he highlights why liquidity is essential and how a strategic, legally backed approach to debt collection can help safeguard your business’s future.
“Cash flow is the pulse – the key vital sign of a company”, Jack Welch, former CEO of General Electric
“Cash Rules Everything Around Me. C.R.E.A.M…” Wu Tang Clan, Enter the Wu Tang (36 Chambers)
These are two quotes from diametrically opposite worlds, but state the same truth that is at the very core of runn
ing a successful SME business. Money in the bank is the most important measure of the strength of a business on a day-to-day basis.
So, while it is inevitable that a business will hold a debtor book, this must be properly managed and kept under control. When cash flow liquidity is the first measure by which it is assessed if a business is solvent or not, unpaid bills and problem debts are damage the foundations on which that business is built. At best they can be time consuming and difficult to chase successfully, and at worst they can threaten a business’ very existence.
J&P Credit Solutions are experts in debt recovery, offering a one stop shop solution from early arrears through to litigation. Our specialist teams are already working with SMEs across a wide range of industries and delivering additional revenue from debts that they had given up on. Working with us lets you focus on making your business the best it can be, while we concentrate on adding cash to your bottom line.
- Telephone Collections
Our technology enabled pre-legal collections processes utilise letters, texts, emails, and phone calls as required to make sure your debtors are promptly contacted, reminded of what they owe and given every encouragement to pay without recourse to legal procedures.
- Routine Legal Recoveries
Where pre-legal collections activity has been unsuccessful, matters can be seamlessly transferred to our specialist Claims and Enforcement team. They focus solely on successfully managing routine claims and enforcement issues through the courts.
- Complex Litigation
With our wealth of knowledge and experience dealing with complex commercial disputes, we will clearly advise at the outset as to the appropriate strategies to apply and the realistic likelihood and scale of any positive outcome. We will review and, if necessary, update this advice as the matter progresses so that you are always in a position to make informed choices regarding the best way to progress given your unique circumstances.
We are confident we can add value to any size of business, but don’t just take our word for it. Based on independently assessed feedback from our clients, we are ranked in Tier 1 of the UK Legal 500 for debt recovery services. We are jointly regulated by the Financial Conduct Authority and the Solicitors Regulatory Authority and independently accredited for quality and information security by Lexcel and ISO27001.
Put simply, our approach is to understand what you want and deliver the results you need. We offer practical, commecial advice coupled with cost effective solutions to maximise your recoveries, with minimum disruption to your on-going business activities.
We’ll also be exhibiting at the Great British Expo in Windsor on Wednesday 12th June — if you’re attending and would like to discuss how we can support your business, we’d be delighted to see you at our stand, No. 16, for an informal chat. More information about the event is available here: Great British Expo – Windsor.