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Protecting Your Small Business

When Your Customers Are Deadbeats

Cash flow is everything for a small business. One surefire way to see that cash flow dwindle is letting unpaid bills mount. Delinquent customers may not seem like a big deal, but the impact can be crippling to a small business both from an operations perspective and from the ability for the business to get credit."Cash flow is the lifeblood of small businesses," says Brian Liu, co-founder and chairman of LegalZoom. "Unpaid bills can quickly become a nightmare."So what can a small business do to prevent customers from not paying their bills? According to legal experts, the first thing to do is to be discerning when taking on new clients.According to Nellie Akalp, a serial entrepreneur and chief executive of CorpNet Incorporation Services, running a credit report on the business or consumer is one way to protect the business.  While it doesn't guarantee the customer will pay, knowing their history will help you decide if you should take them on to begin with."You should never begin a pro...

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