@Sandy Aluru will add it shorlty!

@Grace Georges will add shortly!

love this!

This is an ongoing struggle for many, many small biz owners. The solution depends on the kind of business model you have and the type of customers or clients you serve. What is your business and what kind of customer do you have?

i have two different options to suggest - though others with experience specific to manufacturing should chime in too. A - like you mention, in some cases like with a new client, I will ask for half up front and half on delivery. Meaning they pay for the final part before they get the final part. That works with project pricing but not always with other types of purchase. I only allow for a 30-day window when the client has already been with us for a while - not because we don't like them but we are also a small business. And we cannot not get paid, it stops the engines. B - Factoring services. Have you heard of these? I don't use them but my older brother has a business too and he swears by them. He only uses them for clients that he has vetted enough to be willing to extend credit but when he does not know them well or knows them and knows he needs to cover his backside. With factoring, there is an advantage in that the company pays you the invoice immediately. The client pays the factoring company as an agent of your business and that factoring agency will do the chasing, they report on credit, etc. They are kind and professional but when people don't pay, they are somewhat ruthless and determined. The downside is that they take a % of your revenue, not a lot but enough that when my brother uses them he increases the prices. And, if the client ends up not paying after a couple of months, then the business does become responsible to pay back what was pre-paid by the factoring company, It's a little bit like having an agent, or collection agency, but you still risk not being paid. I will say that it does help -- it's not you personally pushing and the pushing to pay, the consistent messaging, calls and letters as well as credit reporting is no joke. And it only becomes firm like that when they don't pay. I'm curious, if you have a 0% overdue pay rate, why are you asking this question? Do you have suggestions for the rest of us to help us solve this issue? :)