Letting go of your business which you worked so hard for is a soul-crushing experience. Well, chances are high that you might lose it over time if your business is you ended up working with defaulters, who claimed to be your promising clients before. During such instances, it is vital to prepare for your business failure beforehand. Being a small or medium sized business, you are always on the competitive notions with some of the biggest runners in this industry. So, finding the right client and creating a h4 client base is always important. Always remember that even if any client defaults, the MSME does not always have to surrender. Keep fighting till the last breath and follow the proper procedure.
Why you need to avoid defaulters and who are they:
Your business will only run successfully if you have a h4 client base by your side. For example, you are working for the clients and getting payment in return. If the clients like your business, they will refer you to some of their other family, friends or business partners. That’s how you grow your business. So, your relationship with the clients is mostly interrelated. You give them their services and they pay you back for it.
However, selecting a perfect client base is really important. If the clients fail to pay you the promised amount for your service, then you are lost. You have already invested a lot of money to serve your clients. So, if they don’t get to pay you on time, your company will be in debt. Being a small to medium sized business, you don’t have a h4 business fund to support the debt your company is in. So, chances are high that you might be losing your company and your dream of an enterprise because of some defaulters.
Ways to protect your business from defaulters:
CreditQ can be really helpful in ascertaining that you stay protected from defaulting clients. In the longer it will also make sure that businesses play fair as over time defaulters would be identifiable in an easy manner.
Credit Information Report solutions by CreditQ:
Credit Information Report business solutions is a great tool for for MSMEs. This not only helps them get more information on the financial status of the company or client they are dealing with; it also makes sure that they may not altogether deal with defaulters.
Add Defaulter Service Works Miracles
In case you come across a business or client who has failed to pay the dues, you can easily report them on CreditQ which is portal for centralized information about defaulters across India.
Be a CreditQ member and get complete peace of mind
Enroll your MSME as a member with CreditQ and get all the information about new businesses you are about to deal with. It helps you get insider information about defaulters. The information is totally credible as it is checked and verified by experts and professionals.
Report Defaulters and help others
CreditQ provides an opportunity to its members to report defaulter businesses and clients on the portal. If any business has failed to make payments and has turned a defaulter, you can upload the info on the portal. The information should be checked and verified by a professionals.
Settle disputes get your money back
CreditQ also gives you the scope to settle disputes related to payments. As MSME you can settle dispute with client business regarding the payment as per your agreed terms and conditions.
We understand that in the present business scenario, it is a bit hard to save your business from defaulters but not impossible. You need proper guidance from experts such as CreditQ, that can provide with exact information based on experiences of those who have faced such scenarios like yours. So, get such tips and tricks and save your business from losing.