Entrepreneurs often underestimate how long it can take to get paid. Whatever the reason for late payments, it's another headache taking your focus away from what you really love about your business. Here are some simple strategies you can adopt to help encourage timely payment and even speed up the process.
If you want to know what's bugging the average small business owner, ask for his or her opinion about the credit card processing fees. Every time you buy something with a credit card, it costs the merchant. And here's the rub: Visa and MasterCard rules say that merchants must accept all the cards within their brand. That isn't fair, and consumers are paying the price for premium cards. Instead of charging the cardholders a bit more, merchants are forced to raise their prices on everyone to make up the difference.