Mental Health Awareness Week

Mental Health Awareness Week

Anxiety and depression among SME owners are often linked to factors around cash flow and ensuring the viability of their company. This can be compounded when the business has invoiced for payment, but they are repeatedly paid late, or the payment becomes so overdue it becomes a debt.

Mental health is an issue that has been receiving much more awareness over recent years, with campaigns like Mental Health Awareness Week helping to break down barriers caused by stigma or a lack of understanding. Having high profile sports and television stars talk about their own struggles has highlighted that this is an issue that can affect anyone and that more needs to be done to offer support and help to those who find themselves suffering.

Debt impacting mental health

The issue of debt has long been linked to an impact on mental health. It can be a double-edged sword as those who may be suffering from mental health issues may find themselves falling into debt as well as debt being a trigger for issues like depression and anxiety.

Anxiety and depression among SME owners are often linked to factors around cash flow and ensuring the viability of their company. This can be compounded when the business has invoiced for payment, but they are repeatedly paid late, or the payment becomes so overdue it becomes a debt.

Not being able to forecast cashflow has a detrimental effect on the business. Growth cannot be planned, jobs become insecure and the ability to invest in new services or technologies is diminished. The constant worry about when, or if, the money for services or goods supplied takes a huge toll on these business owners. The impact on their mental health should not be underestimated and Federation of Small Businesses have been campaigning for the government to do more to tackle the issue of routinely late payment by larger firms to smaller contractors.

Securing payment should cost a business relationship

A lot of businesses are reluctant to chase for payment because they do not want to damage the relationship they have with their clients, or the prospect of future work. This does not have to be the case. Recovering a debt or securing a payment should never cost you a client. By using an established and ethical company to recover your money or to ensure timely payment, you can remove a huge burden of time and mental resources, freeing you up to focus on what you do best, growing the business.

At Daniels Silverman we have years of experience and an established reputation in honest and transparent practices when it comes to both credit control services and debt recovery. We tailor our services to meet the individual needs of the company and understand that no two cases are the same. We white label our credit control and work with you to ensure that your invoices are paid when due, or that your debts recovered in as timely a manner as possible, without damaging your reputation or your client relationships.

If you would like to speak to us to see how we can help you can give us a call or visit the website where our team can chat to you about how we can help.

https://www.Danielsilverman.co.uk/contact