Some business owners think that not getting paid for the odd job is simply part of being in business and write it off as part of their tax return to the ATO. Here, we illustrate the impact that not getting paid for a job has on your business and the importance of ensuring you are paid for your hard work.
It’s not just the cost of the goods and/or services that you have provided.
The real cost is the value of the additional jobs that you need to complete and be paid for in order to get back to a position of breaking even on the initial unpaid job.
The calculator below shows the real cost of not being paid. Enter the chargeable amount of the job and the profit margin percentage on that job. Our calculator will do the rest.
How would your business be impacted in the event that someone doesn’t pay you? Here at EC Credit Control we see a lot of businesses unnecessarily stressed due to being put into this position through no fault of their own.
Protection is available in a number of different forms:
Debt Collection if you are already in the position outlined above
Terms of Trade to help prevent you from finding yourself in the position outlined above
Registering on the PPSR to improve your position in the event one of your customers goes out of business.
