BEING PAID – PROMPTLY
Getting paid promptly is the key behind any successful contracting business – but in practice it is often difficult to implement.
Late and poorly presented invoices plus a delay before bills are chased up all equate to an inconsistent cash flow, with the contractor having to carry the cost.
In this issue of Contractor Update, we look at techniques of how to invoice customers more effectively and a disciplined approach to the collection of debts.
Achieving a consistent cash flow is not just about good house-keeping – but is down to a host of other factors. Diversification is one.
We take an in-depth look behind the scenes at EPR ELY – the UKs first straw-fuelled power station and discover the business opportunities for the contractor. Currently, 75% of bales for the station are supplied by contractors and straw merchants and contract prices are based on £20/t in the stack.
Running a profitable baling service relies greatly on knowing accurate running and depreciation costs, in addition to providing an efficient operation.
Contractor Update analyses these costs in detail and offers advice on which type and size of baler should be operated to justify seasonal workloads.
We conclude the Update by looking at an advanced training programme for sprayer operators which will be introduced later this year.
Developed by Lantra Awards, the training programme could help spraying contractors sell their services by using additional qualifications, which should open up a wider customer base.