05/08/2026
We thought we had landed a licence to print money.
A shipping company operating from Falmouth Docks needed its Romanian crew transported to and from Luton Airport for shift changes.
Sometimes we had several vehicles going up and several returning. Long-distance fares, passengers in both directions and very little empty mileage. On paper, it was brilliant work.
The journeys were profitable. Getting paid was another matter.
We paid the drivers and bought the fuel immediately, but could wait up to ten months for our invoices to be settled. At times, the company owed us tens of thousands of pounds.
They were not deliberately withholding payment. The shipping company was waiting to be paid itself and the money simply was not there. That made it understandable, but it did not remove the risk.
Eventually, we had to refuse further work until the balance came down.
I handled larger companies differently. When FTSE 250 companies left invoices unpaid because of oversight or poor internal processes, I continued accepting work but made it clear that I would take legal action if necessary.
That always resulted in payment.
A legal threat would not have made money appear at the smaller shipping company. Instead, I spoke honestly with the CEO about the pressure it was putting on our business. The balance was always paid and the relationship survived.
Payment terms give you rights. They do not put money into a customer’s bank account.
A profitable job is not necessarily good business if you have to finance the customer for nearly a year.