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Credit control is a vital aspect of financial management for businesses. It involves managing creditsales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. 3: Debt Recovery and Minimising Bad Debt 3.1
Effective credit control procedures, such as regular monitoring of outstanding balances and proactive debt recovery, ensure that any potential issues are addressed promptly, reducing the likelihood of significant losses. A good business credit report will give you: Credit rating. Credit score. Credit limit.
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