6 Tips on Surviving the Failure of a Big Client
It’s no secret that the business environment is tough, particularly for small enterprises where the margins are always a little thin. One late payment from a client can cause consternation, but what happens when that client fails? The chances of one of your major clients collapsing before paying you is very real and sometimes there may not be any warning whatsoever.
This situation can be a death knell for a company that has already spent the expected money. So, when a client goes bankrupt, how do you avoid slipping under with them? Here is a list of six things you can do to ensure your client’s misfortune doesn’t become your own.