article thumbnail

Here Are the Distress Signals Private Firms Flash When They Are in Trouble

Your Virtual Credit Manager

Courts , commercial bankruptcy filings increased 40.3% “The record-high bankruptcy filings in 2024, despite a relatively stable economic environment, suggest systemic vulnerabilities in the business landscape. If you are selling public companies, a single bankruptcy can have a huge impact on your firm. Since then the U.S.

Bad Debt 130
article thumbnail

Storm Warning: Private Company Red Flags

Your Virtual Credit Manager

The United States has witnessed a significant surge in corporate bankruptcies, reaching a 14-year high in 2024. Business bankruptcy filings increased by 33.5% In contrast, customer bankruptcies or other defaults typically cause the loss of most, if not all, the AR owed. during the 12-month period ending September 30, 2024.

Bad Debt 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

3 Reasons Your Books Should Be Your #1 Off-Season Priority

Fundera

But instead of ignoring your business all together, consider using your downtime to get your financial house in order—and priority #1 should be your books. Yes, expanding your customer base is always important, but focusing on your books is just as important, if not more so.). Simply put—your books!

article thumbnail

Due Diligence Doesn't End with the Credit Application

Your Virtual Credit Manager

Among other things, commercial bankruptcies have been steadily climbing over the past year. If the European parent company defaulted, the North American subsidiary would be pulled into bankruptcy even though its operations were profitable. For most companies, accounts receivable (AR) is one of the two largest assets on their books.

article thumbnail

A look back at 2024: 5 trends in credit management from the past year

Onguard

Indeed, one in four bankruptcies occur due to late payments of invoices, according to EU data. According to the latest Allianz data, 2024 is already going in the books as a record year for insolvencies , with Western Europe leading the rebound in the number of cases.

article thumbnail

STOP Taking Finance Advice From BROKE “INFLUENCERS”

Due

And, sometimes, this has resulted in bankruptcy. As an example, despite filing for bankruptcy in 2022 , influencer Christie Swadling shared ‘money-saving tips’ online. Learn about personal finance by reading books and articles. Furthermore, many influencers are themselves broke.

article thumbnail

5 Tips for Small Business Owners to Assess and Improve Their Bookkeeping

Due

Small business bankruptcy filings increased 78% over the past year, driven by impending changes to bankruptcy law and ongoing uncertainty about the overall economic outlook. Off-the-shelf solutions like Quicken or QuickBooks are popular tools for managing books you’ve likely heard of.