How to get paid in the cost-of-living-crisis

19th October 2023
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We understand that late payments and the abuse of retentions can be a real headache for roofing contractors. With the current cost-of-living crisis in the UK, it’s becoming increasingly difficult for businesses and individuals to keep up with their bills and make payments on time. This can have a direct impact on your cash flow, making it harder to pay your own bills and keep your business afloat.

The cost-of-living crisis has been a growing concern for the past few years, with rising rent prices, food prices, and utility bills all squeezing incomes. As a result, you may find that some of your customers are taking longer to pay for your roofing services, or even avoiding paying you altogether.

So, what can you do to ensure that you get paid on time, amidst the cost-of-living crisis? Here are some tips:

  • Be upfront about your payment terms: Make sure your customers know when payment is due and what the consequences are for late payment.
  • Offer payment plans: Consider offering payment plans that allow customers to spread the cost over a longer period.
  • Use technology: Consider using online payment systems that make it easier for your customers to pay you on time.
How to get paid in the cost-of-living-crisis
  • Try a debt collection agency: Debt collection agencies can take care of all the above for you. Their goal is to take the frustration away from business owners dealing with late payments, giving you your valuable time back.

By taking these steps, you can help ease the impact of the cost-of-living crisis on your business. It’s also essential to be understanding and compassionate with your customers, many of whom may be struggling to make ends meet. By working together, you can find solutions that work for everyone.

At Redwood Collections, we understand the challenges that the roofing industry face, and we’re committed to helping you succeed. We offer debt collection services tailored to you, allowing you to focus on your work while we take care of your unpaid invoices, with no upfront joining fees and a no-collection, no-commission service. We also understand the importance of handling debt with sensitivity and maintaining customer relationships.

With our reduced commission rate of 12% for CORC members, now is the perfect time to entrust your debt recovery to us. Contact us today at 020 4515 2757 to learn more about how we can support your business and ensure that you get paid on time, every time.