Comments on: How to Protect Your Business from Bankrupt Customers?

By: Glen Scheer

Glen Scheer — Thu, 17 Sep 2009 00:23:57 +0000

I rated this article "5 Star" because it is an excellent article. For some reason, this site registered my rating as 0 (zero). Unfortunately, I decided to try again making sure I paid attention so it wouldn't happen again - it happened again. I hope someone knows how to change my rating.

I think this is a great article (and very timely).

One thing that is not mentioned here is the fact that as businesses start recovering from the current financial crisis, cash flow will be more important than ever. In the last two years, at least Billions (probably Trillions) of dollars have just vanished. Every time someone reported losses, that money is no longer in the system. As we resume expanding without this money, cash shortages will occur. Many businesses will not survive the climb.

I have been selling business credit insurance for 34 years and I have seen it before. Remember the Savings & Loan fiasco of the '80s & '90s? I am currently an independent broker at Business Credit Insurance Brokers of the United States (BCIB.US). Right now it is tough to get the coverages that are being requested (for good reason).

Because we are now starting to recover (that is what is being said) I am meeting with some Factoring Companies and Accounts Receivable Financing Companies. I plan to be ready when businesses need cash flow to grow their way out of this current situation.

Glen Scheer
glen@bcib.us

By: Glen Scheer

Glen Scheer — Wed, 16 Sep 2009 17:23:57 +0000