With South Africa’s relatively high (and increasing) interest rates, it has never been more important to ensure that credit control happens effectively within a small business. For any business that sells the bulk of their goods and services on credit terms to other businesses, collecting their money timeously is critical not only to their cash flow, but to the survival of the business. All too often though, business owners think of credit control as “phoning for the money”, but sadly this approach will not yield the required results. Here is a list of tips that businesses need to focus on in order to ensure that their cash keeps flowing! Understand […]

The first three months of any year is traditionally the time when many businesses that provide commercial goods and services on credit terms struggle with their cash flow. Generous bonuses in December; staff being on leave; and a lack of enthusiasm from clients to pay what is owing according to their agreed terms all have a negative cash flow impact. It is not unusual to see a spike in delinquent debtors in this quarter, especially for businesses that have a reliance to industries such as building and construction, or even manufacturing and distribution businesses where their clients go into December shut-down. For any business owner these times can be daunting, […]

With year-end exams upon us and thousands of matriculants deciding on a future study path, CEO of credit management company Debtsource, Frank Knight, has reiterated the importance of a career choice aligned to high-demand occupations. Every two years, the Department of Higher Education and Training publishes a list of over 370 high-demand occupations in South Africa, which highlights occupations that show relatively strong employment growth or are facing staff shortages and which may to be in demand in future. According to the department, there is a growing international need for education and training to be better coordinated with the needs of society and economy. Its list identifies high demand occupations […]

The dilemma of having qualifications with no experience remains a challenge with organisations who try to bridge the skills gap in both the skilled and professional labour factions.  This challenge is often compounded by economic factors such as the low employment rate. In 2014, Debtsource, a specialist credit management company that provides complete solutions for any business that extends credit to their customers, established a learnership programme assisting students who complete their diploma in credit management to become competent and well-rounded credit management specialists. “The aim of the learnership programme is not only to open doors for employment in the credit field but to address a unique skills requirement. We […]