A Dollar is a Dollar, A Dime is a Dime.
For many people in work, the end of the month signals pay day. For the most part it is a regular occurrence, one many folk come to rely on. For better or for worse, it’s an essential ingredient to keep the ball of life rolling. Imagine the uproar if you regularly had to chase your employer for your wages? Money makes the world go around. Cash is King.
When you run your own business – one of the things you have to get used to, is that pay day…kinda vanishes. You have to get used to getting paid after the company gets paid, and quite right too. So prompt payment matters.
A couple of years ago, I had to wait over four months for a substantial invoice to be settled. The delay seemed designed into the process, despite both parties having previously agreed payment terms of 30 days. Fortunately we manage our business with care but too many delays like this spells trouble. Money makes the world go around. Cash is King
At What Goes Around we don’t have a policy, or terms of settlement for invoices we receive. We simply pay them as soon as possible after arrival, usually within 24 hours of receipt. From my experience, this is not uncommon among employee owned and smaller businesses. Money makes the world go around. Cash is King.
Lots of businesses talk a lot about Corporate Social Responsibility, and I think paying your bills promptly is a key part of being a responsible business. If your company delays payment to your suppliers, I wonder how that fits with your company values?
