New business debt collection may be the last thing on your mind as you juggle all the different moving parts the come with starting a business. But it can be a deciding factor if your business is to survive and thrive.
If you are in the process of starting a new business, debt collection on past due accounts is likely not even on your radar yet. However, establishing a process on how to collect debt is a crucial component of any business – no matter what the age. Here are a few of the myths that new (and not so new) business owners should dispel when it comes to new business debt collection.