18/03/2021
Even if it seems like a small amount to you...
Here's why when a small business owner or freelancer completes a job for you or gives you products or services on credit till your pay day, you have to Pay Up & Pay On Time.
No matter what the amount may be, if you don't pay them, then it has a huge ripple effect on their business and on their lives.
Don't assume that because they own a business or 'work for themselves' that they are well-off and can get by without that which you owe them.
That R30 you owe them is perhaps the amount of prepaid electricity they use for a day.
That R100 you didn't pay on time could mean a R1000 debit order of theirs was R50 short and could not be paid, so it now incurs a R100 fine from their bank.
When you eventually do pay them, they have already suffered double the loss.
That R1000 you owe them? When you earn a 30K monthly salary, the R1000 realistically is a small amount to you, and if you are R1000 short this month, your bank will most likely give you an overdraft...
To them it means a machine they rely on for work now cannot be repaired, so they cannot make any more money while they are waiting for your money. They are now losing way more than what you owe them.
You not paying them on time or at all does way more than hurt their feelings. It severely impacts their livelihood and also their personal lives.
Many of them started out saying "strictly cash" or payment upfront but they eventually accomodate clients who can't pay upfront because they know exactly how tough things are for everyone.
Please just don't leave them hanging out to dry.
Don't forget that once the needs of their business have been met, just like you, they also have families they need to feed.
If due to truly unforeseen circumstances you really are unable to pay, at the very least be honest and forthright with them, talk to them so that they know not to expect your payment which they are counting on.
If you are also a small business owner or freelancer owing another small business, but are struggling to pay them, talk to them. They know exactly what you are going through and together you might find alternative ways to help you, like for example a trade exchange.
Just dont go quiet and hide away because you could be burning bridges you might now not even know you will need to cross some day.
Yes this post is based on our own experience and what we see some of our business clients and associates are having to deal with month after month.
