Small Business Ru!e of the Month

Small Business Ru!e of the Month

01.11.2019 Your Suppliers Are Not Your Bankers


Keeping money in your bank account to save overdraft costs is a good thing. I agree. Stretching out payments to your suppliers as long as possible keeps money in your account, so it must also be a good thing, so the argument goes. Here I disagree with almost every bean counter in the world. Fast supplier payment is a great indication of the health of a business. There are only two reasons that a business does not pay its bills on time. The first reason is that the business simply do ..