Many small businesses operate with a small amount of working capital. That makes getting paid quickly important, and we’ve got some ways you can get paid faster.
1. Get a signed contract. In this list of 10 tips on getting paid faster, that’s number 1. It sets expectations from the beginning.
2. Go electronic. FreshBooks found electronic payments were made 8 days faster than traditional payments.
3. Invoice faster and you’ll get paid faster. Recency matters. Send the invoice while the project is still fresh in your client’s mind and research shows on average you’ll get paid within five days.
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IBERIABANK specializes in helping small businesses grow.