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Catalyst Law
63 followers -
A new breed of law firm. Guides on handling common legal problems combined with fixed priced legal solutions for individuals & businesses.
A new breed of law firm. Guides on handling common legal problems combined with fixed priced legal solutions for individuals & businesses.

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A statistic that should terrify all small business owners this Halloween 🎃👻😱

https://www.catalystlaw.co.uk/business-debt-recovery.html #halloween
#smallbusiness #debtrecovery
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Late paying customers are usually the primary source of small business cash flow problems.

Research has found that a typical SME spends an average of 130 hours a year chasing late payments and unpaid invoices often account for 14% of a small business' annual turnover.

How you manage late payers can have a huge impact on your business, so utilising your legal rights to claim interest and compensation will help mitigate the impact of any late paying customers.

#Invoices #Cashflow #SME
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Small businesses will be able to resolve disputes with banks through an independent adjudicator, as the Financial Conduct Authority (FCA) confirmed the extension of its ombudsman service.

Businesses with an annual turnover below £6.5m and fewer than 50 employees, will be able to access the new service by the end of next year.

The announcement came as the FCA begins a consultation into more than doubling the amount of compensation the ombudsman can order financial services firms to pay out from £150,000 to £350,000.

#smallbusiness #banking #financialservices

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Unfortunately, in most businesses the word "discipline" carries negative connotations, with most employees and managers instantly associating it with misbehaviour, misconduct and mistakes.

This can lead to employees thinking that a disciplinary procedure only exists to punish and eventually dismiss them.

But establishing a Disciplinary Policy doesn’t have to be done in a negative light.

#Discipline #HR #Policy
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Why didn't the lawyer make a coffee?

Because there was insufficient grounds ☕️

#InternationalCoffeeDay
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There are very few people or businesses that don't need to borrow money at some point.

Traditionally banks, building societies and credit unions would be the source of funds. However this tradition is changing with borrowers frequently now looking towards family, friends and business partners as a loan source.

A loan agreement is vital to provide protection should the worst happen and a borrower defaults.

#Debt #Loan #Legal

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Good news for SME owners as 670 UK small businesses that were turned down for loans from high-street banks have received over £15 million of funding thanks to a new government matchmaking scheme.

The Bank Referral Scheme requires Britain's biggest banks to pass on the details of small businesses they have turned down for loans to online credit brokers. The brokers then help those businesses to source funding from alternative, and often smaller, lenders.

https://www.gov.uk/government/news/over-15-million-of-funding-sourced-for-small-business #Finance #BusinessLoans

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Our very own Jane Gittins who is shortlisted in this year's Law Society Excellence Awards is featured in this month's Doncaster Gazette.

https://edition.pagesuite-professional.co.uk/launch.aspx?eid=5e1e8d2a-d65b-4281-b395-dec5b404182c&pnum=18 #Doncaster #SouthYorkshire
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Have you ever skipped holidays as a small business owner?

New research by online payments provider +GoCardless, has revealed that one in five small business owners spend up to three days chasing late payments during the summer months and one in ten leaders take nine days doing so.

As a consequence, 57% of SME owners end up ditching their holiday plans because of unpaid invoices. Moreover, 61% still stress about pending payments whilst on holiday.

#SME #SmallBusiness

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In the majority of cases, any injury claim made against your business will be covered by your Public or Employers Liability Insurance.

But even if your business doesn’t have a suitable policy in-place, there are still options to defend a claim against you.

#Defence #Injury #Claim #Insurance
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