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And another thing…

One of our suppliers owes us a reasonable amount of money. (Less than 50 grand, more than 10 grand). They haven't been able to pay us because they are owed a very significant amount of money themselves (Less than 200 grand, more than 100 grand). We've always had a very good business relationship with them and consider them to be friends.

We can understand that they have to pay their staff before us, because if they don't pay their staff, they'll go under and we'll never see our money. We aren't fools either and know that they're a profitable business and so as long as we can, it's better for future relations and business to just absorb the cost for as long as we can and we will get paid eventually. The problem is that as a small business with that amount of money outstanding, we really are tightening our belts at the moment. I've even had to tell my girlfriend that she's got to wait for her birthday present (all the more annoying knowing that we're working hard and working profitably).

Anyway, my rant is about the fact that the owner of the company that owes our supplier between 100 and 200 grand had a crisis meeting with our supplier today. As our supplier is in the same building and we have a close relationship, we know each others' business pretty much inside out.

I'm sure if you're still reading this, you're wondering when I'm going to get to the point. Well here it is. I went out for a cigarette this morning and saw a brand new Range Rover Sport. I passed one of the guys who works for our supplier and said, "whose is the Rangie sport?" "Oh that's [insert name of client that owes them between 100 and 200 grand here]"

What the ****? How can they owe between 100 and 200 grand to a company and be driving around in a 50 grand car?

Even if I was the world's greatest crook, If I was going to a meeting with someone I owed that amount of money, I'd either hire a car, buy a banger or borrow one of the sales reps' cars.

I'm against vandalism as I don't believe in touching other people's property, but I wanted to key that car as it felt like it wasn't theirs, it was mine.

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Re: And another thing…

I wouldn't have blamed you if you did..

If it was a nice, brand-spanking new 159 Ti 3.2 V6, could you key that? Thats the ultimate question
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Re: And another thing…

Cash-flow is a real problem, particularly in the construction industry. We run a successful and profitable business, but cash-flow management takes up an inordinate amount of time and resource and occasionally causes us considerable problems.
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Re: And another thing…

badgers nadgers, i agree; turning up on the door step of a creditor in a spanky new motor when you owe them a large sum of money, probably isn't the most tactful thing to do.

Are you sure you'll get your money mate? My grandad always told me that a new car/house/boat acquired when there's rumblings of financial problems is the lash hurrah before the shi5 makes progress toward the fan; it's a kind of inner deceit of the people in trouble who kid themselves 'hey, everything is fine. It must be. See, I've just bought a fab new car. So things are great....erm, aren't they?'

So make sure you get your money. As Fraser said, cash flow is a real problemo smaller companies, and is one of the reasons they often sink, sadly.

Good luck matey - let us know how it pans out.

g

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Re: And another thing…

You can buy everything on credit, hence the ranger sport is just a credit expense. Still a very bad move on the twit company that owes your suppliers, part .

I'm with g, are they going to pay up? What a big worry for you, hope it gets sorted out quickly and business goes on as it has in the past.
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Re: And another thing…

Just before I left the UK, a friend of mine's
print business went under due to being owed
by some [email protected]

He stiffed the charity WorldVision too, at the same
time.
 
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Re: And another thing…

If you have a good relationship with this business and you depend on their custom then i reckon be patient every business big and small has spells of cash flow problems ie when expanding
 
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Re: And another thing…

The Ranger may be on lease. They're not going to stop using it, just because they have some debts... only when the repo' man cometh.

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Re: And another thing…

I'm with you on this.

I'm owed £ 9K by a guy who drives a Bentley and has just bought his own commercial premises. Another owes me £ 45K and drives a Cayenne and owns a 4 story country watermill with a couple of acres.

I'm basically an interest free loan to these people.

Last edited by howell811; 01-10-07 at 16:17.
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Re: And another thing…

Quote:
Originally Posted by howell811 View Post
I'm with you on this.

I'm owed £ 9K by a guy who drives a Bentley and has just bought his own commercial premises. Another owes me £ 45K and drives a Cayenne and owns a 4 story contry watermill with a couple of acres.

I'm basically an interest free loan to these people.
I bet they don't have hands-free car kits either. People in flash cars never seem to be able to afford those.
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Re: And another thing…

Quote:
Originally Posted by Fraser View Post
I bet they don't have hands-free car kits either. People in flash cars never seem to be able to afford those.
The people who buy big posh cars always seem to scrimp and save by not buying the apparently optional flshing indicators & repeaters. Although they do find the money for that other option, the permanently illuminated front fog lights.....
 
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