Did you know that 4 in 10 construction invoices are paid late?
Well, unfortunately, it is true, and at JV Recruitment our Labour Hire division hears it directly from various people all of the time, and we've experienced it ourselves as a team.
Tradies: The dream of working for yourself and doing what you actually love is exciting but the reality soon hits home when someone stops returning your calls when you are chasing payments. You end up chasing and chasing and chasing, and sometimes to no avail.
Construction companies: Especially with growth cash can dry up and if people aren't paying you then this flows onto making it hard for you to pay trades, subcontractors etc.
JV Labour Hire: We learned the hard way ourselves with construction clients delaying payments or even going bust. These lessons taught me to expect the unexpected and has resulted in strong back-end procedures where every client we supply has agreed to terms of business, a policy and procedure when it comes to debt collection, a strong relationship with a debt collector, debt insurance, a full-time credit controller, and a back up plan when it comes to cash management.
They say cash is king, and in business managing cash flow is often stressful and causes a great level of anxiety for yourself, and those who support you e.g. your family.
If you are sick of chasing money and want regular weekly paid work, then working for JV may be a great option or if you have more questions about how to put together a solid credit control system for your business then feel free to get in touch below.