Business Contents Archive

Accounts Receivables Question

Hello all! My father is a small business owner and he is having an issue with accounts receivables. He has recently (in last 5 years) taken on some large accounts (in the 6 even 7 figures) that have net 60-120 days as part of the contract terms. The problem is, he employs subcontractors to do the work, and he pays them biweekly (35-50%). This wasn't an issue previously since net 30 is his standard. We can't ask the new accounts to change their practices, as clearly he doesn't want to risk losing them. Any suggestions on how to resolve this?

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Don’t laugh. I need basic rules of thumb

This has been bugging me for years. We all see businesses around us and it seems like they all get run in their own way. You would think that after centuries of experimentation we would have rules or formulas to determine whether to quit /keep going/grow. I see restaurant owners that work for free and have their families working to save money. They use personal money to buy supplies for business etc… just a mess. So here’s where I need help. If a business needs to grow it probably will need to borrow money. How the heck do you decide how much to pay yourself? After that, how much do you reinvest? Or do you take as much as possible after paying your loan minimum? Do you try to pay off your business loans ASAP or do you try to pay them in installments every month with interest since it’s just the business money… TLDR: How do you decide how much to give yourself vs get your business out of debt. Seems like some businesses have no problem with perpetual debt

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Should I be paying for delayed shipping?

So I imported some skids. All of them were delivered late. Supposed to be delivered 7-10 days take over 30. Am I supposed to pay for this bullshit? I’ve reached out to the shipping company and they offering me 10% off. Is this a good deal? What happens if I don’t pay them? I’m planning on using a different shipping company in the future. Currently owe them over 5000. Can they come at me?

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High Risk Investment Firm

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