Dear Members and Friends,
The Chamber is a SME just like
50% of your businesses. As a SME
boss, I don’t have to tell you
the importance of cashflow. It
is the lifeblood of every
business but especially for us
SMEs and especially right now in
the worst economic crisis since
1945.
Many of you will
share my frustrations with
companies and entities which do
not pay invoices promptly. This
is sometimes by design. It is
also often a result of their own
inefficient, over-engineered
processes including complex
approval procedures. So, what
can we do?
First off, we
can help ourselves by paying
each other’s invoices on time,
every time. The ideal is payment
on sight of invoice as practised
by your fellow member John
Bittleston of
Terrific Mentors
International Pte Ltd. A good
start is payment within 30 days.
That is why I am very
encouraged by an initiative by
another of your fellow members
RIABU. It is inviting companies
to pledge to pay invoices within
30 days. If most of the private
and public sectors consistently
practised this pledge, just
think how transformative it
would be for mutual productivity
and the economic survival of all
SMEs. Take the pledge now and
action it. I have. You should
too.
www.Pledge2Pay.sg
Yours faithfully
Victor Mills
Chief Executive |
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