Late-paying customers have been a particular nuisance for small-business owners through the recession. But some owners have learned to creatively pry money from their delinquent clientele.
About 32% of business owners complain that customers are taking more time to pay, up from 27% in 2008, according to a survey of over 700 entrepreneurs released this week by American Express OPEN, the company’s small-business division. About a third say they plan to improve cash flow by being more aggressive in collecting accounts receivables.
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