Many business owners think growth of sales equals success. But, sometimes so-called "successful" businesses become insolvent because they do not have enough cash to meet the needs of increased sales. Without cash, how can a business pay bills, meet payroll requirements, and buy raw materials in accordance with the increased sales demand? The Estevan Chamber of Commerce along with Sunrise Community Futures offered some insight on this topic during a recent 'Credit and Collections' workshop held at Affinity Place Lounge on Tuesday, April 29th from 9:00am – 12:00pm.
"In business, extending credit to customers is part of doing business. Making the sale is often the first, easy step. Collecting what's owed comes next! This workshop gave business owners and managers some important tools and resources that can help when collecting from customers. This session was a great opportunity to learn some great strategies related to collection," said Verna O'Neil, General Manager of Community Futures Sunrise.
Rebecca Howie, Marketing and Events coordinator from the Estevan Chamber of Commerce said, "Small to mid-sized businesses have a limited amount of time and resources to chase elusive customers for payment on overdue accounts. The tools that Len Lafreniere of the Credit Bureau of Saskatoon provided helped attendees understand the process and policies that each business owner or manager should take to keep their creditor list manageable."
Len Lafreniere has been with the Saskatoon Credit Bureau for 14 years and has worked for member owned corporations as a credit manager. He has owned his own business for 26 years and has a wealth of knowledge and credit experience to bring that you can take home and start practicing within your business.
There were approximately 15 attendees at this event, and all appreciated the detailed information they were provided by the facilitator.
If you are interested to host a business workshop in your community, contact Community Futures Sunrise. There are a wide variety of session topics available, and a workshop event can be customized to suit the needs of your business community. Call Verna O'Neill of CF Sunrise to learn more: 1.877.851.9997.