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Don’t get stiffed in 2023!

Don’t get stiffed in 2023!

Why is it that used car salesman, estate agents and property people all get a bad rap? To be fair, there are some seriously bad ones that give everyone else a bad name! 😣

I am sure we’ve all seen the programmes on slum landlords, rogue care traders and shady salesmen. 👨‍💼 👩‍💼 

Social media is a world of smoke and mirrors, the biggest veneer to create a respectable shine ✨, start scratching under the surface and do your homework.

Do you know you can follow companies on “Companies’ house”, and it is FREE! 😍 Just search the company you want to follow and select FOLLOW THIS COMPANY! Simples! 👍

Plus you can search on individuals too!

An alert we had on a company popped up recently showing they were in administration, owing a big chunk of money! Smoke and mirrors… 🤯 

I cannot stress enough the importance of companies’ house. While often it is too late, by monitoring a company you can pick up on some early warning signs. 💯

A few things to look out for: 👇

⚠️  Multiple changes of Directors in a short time.

⚠️  Late filing of company accounts.

⚠️  An increase in the number of charges / borrowings being taken out with no obvious reason.

⚠️  A debenture in place to a preferential creditor and / or unexplained inter company loans.

There are also some more subtle signs: 👇

❌ Not paying supplier invoices on time.

❌ Excuses as to why they can’t pay you.

❌ Delayed replies to emails.

❌ Standards start to slip, projects over run.

❌ High staff changes.

❌ Not returning phone calls.

Remember, do your homework and don’t get stiffed in 2023!

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