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Business Basics – with Lord Sugar
How to get paid on time?
The first series of Managing Cashflow guides, launched by the Government and the Institute of Credit Management (ICM) in November 2008, were the subject of over 120,000 downloads, by businesses across every sector, each of them with a need to get paid during the tough economic climate we all faced.
In December 2008, the Government also asked the ICM to host the Prompt Payment Code, an initiative which has been the subject of much media coverage, attracting a growing number of signatories since its launch.
The publication of the second edition of Managing Cashflow guides coincides with the production of three videos by Lord Sugar on behalf of the Department for Business (BIS). In these videos, shown below, Lord Sugar reiterates the steps you must take when extending credit, from knowing your customer to getting paid.
Talking about the launch of these initiatives. Lord Sugar advised: “I know just how tough running a business can be. It is all too easy to get the basics wrong, or simply to fail to get the basics done. These videos and guides provide simple, short and practical advice on a range of business essentials. I hope you find them useful”.
