Is credit good in business?

[Starmix]

I'm very sure that another day will come, he will need help but he won't be able to come to you because he broke the trust you have for him

I am not interested to see him again even his shadow. If he wants to pay pay, he could send it through Western Union, but I doubt if he has the feeling to pay me.

 

[Bisolami]

I am not interested to see him again even his shadow. If he wants to pay pay, he could send it through Western Union, but I doubt if he has the feeling to pay me.

Hahaha
People like that have no guilty conscience. I'm very sure that he's not making any plan to pay you

 

[Starmix]

Hahaha
People like that have no guilty conscience. I'm very sure that he's not making any plan to pay you

That is also what I thought about many times that my ex-bf will never pay me. It is up to his conscience if he has.

 

[Bisolami]

That is also what I thought about many times that my ex-bf will never pay me. It is up to his conscience if he has.

Sorry about that
I'm sure you will make more and more money and he will come back needing your help but don't render to him

 

[Starmix]

Sorry about that
I'm sure you will make more and more money and he will come back needing your help but don't render to him

He's a good job in Melbourne Ausie as McDonald's branch manager.

 

[Hate2Wait]

It needs to be managed because selling on credit has its issues too as we may be out of money to place new orders if our customers don't pay us on time

 

[Starmix]

It needs to be managed because selling on credit has its issues too as we may be out of money to place new orders if our customers don't pay us on time

The business owner must limit their creditors. They'll resume when all paid their credits.

 

[Hate2Wait]

The business owner must limit their creditors. They'll resume when all paid their credits.

They should allow credit to those that are good at payment and should deny others

 

[Starmix]

They should allow credit to those that are good at payment and should deny others

That might be the case. There's no business owner to go bankrupt because of those hard creditors.

 

[Hate2Wait]

Yes they only need to allow credit to those that are worthy and will pay on time and should deny those that always branch the deadline

 

[Starmix]

Yes they only need to allow credit to those that are worthy and will pay on time and should deny those that always branch the deadline

That's really the case. Managers don't like bad creditors. They play havoc to their business.

 

[Hate2Wait]

That's really the case. Managers don't like bad creditors. They play havoc to their business.

They need to manage these well in time because if not then these will be a headache when they are to prepare a balance sheet for the business

 

[Starmix]

They're indeed a headache of the bank or big stores for example. They cannot bulk when lack a capital because it's borrowed.

 

[Hate2Wait]

This is why they need to define max 15-30 days credit period in the Order and should start to follow up to get payments at the soonest

 

[Starmix]

Usually monthly or quarterly, seldom on 15 - 30 basis.

 

[Hate2Wait]

Most companies prefer credit term of minimum 7 days but bigger companies prefer 15-30 days

 

[Golden9]

I think it depends on the situation and circumstance. If you are selling food and you have a certain neighbor so hungry, it will be inhuman of us if disallow the hungry neighbor to buy in credit. But if it always happens and no single payment is made, that neighbor needs discipline by refusing to purchase food on credit. For a big sore, unless that customer already built good friendly relations, a good creditor, no reason to refuse, so it is case to case. What about your observation in your community?

Once in a while is okay. If there is prompt payment too, any business owner would give things out on credit.

There are some people I do refuse credit simply because of their history, no matter how desperate they seem to be.

 

[Raja]

You need to plan. If you don't like to sell on credit then finalize it and stick with it

 

[Suba]

Of course, credit sales are highly recommended to speed up sales and inventory turnover, but on the other hand, you also need to provide credit sales, but businesses must be able to determine the maximum amount of credit sales, for example, only providing credit sales of 20% of total sales.

 

[hastral45]

Though it is common saying in Nigeria that "no credit today, come tomorrow". Yet, a viable company must make provisions for debts in its business operations as not all their customers would make outright payments for all their purchases.