A customer owes me £15,000, what should I do? BANK OF DAVE replies

We run a long-standing family business which imports products that we sell on to firms – our client base largely consists of garden centres and independent shops, but we also have sole traders who buy from us too.

One these sole traders owes us more than £15,000. We set out 30 day payment terms, but this has gone on for more than a year, with a variety of excuses given to us for non-payment.

If we go down the legal route, it is likely the fees will wipe out what is owed. I messaged on Instagram, and they said essentially they cannot afford to pay – but they continue to post up glossy photographs with their celebrity clients.

What would you do in the circumstances? Is it uncouth to start leaving messages on their social media posts? 

We just want them to understand we too are a small business who cannot allow them to get away with it.

Dave Fishwick, This Is Money’s business doctor replies: I can understand your frustration.

it’s been hard enough for small businesses in the last few years: the pandemic, rising prices and supply chain disruptions forcing many businesses to adapt or close down.

I tell all my businesses to pay invoices immediately, a small business waiting 30, 60, 90, or even 120 days or more could go bust just waiting for what is owed to them.

Source of data and images: dailymail

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