In a concerning new trend, 33 percent of small businesses have increasingly experienced delayed payments from large customers. In this episode of The Pulse of Small Business, Leon Shapiro talks with Vistage member Scott McKenna to see how this trend is affecting his business, Gardner Outdoor and Pool Remodeling.
Scott says he sees a trickle-down effect. When a large builder receives a delayed payment on a commercial job, Gardner also receives a subsequent delayed payment. Scott shares the keys he implements for countering delayed payments.
Check out the video to find out how Vistage members, including Scott, are taking action to prevent delayed payments and minimize the impact on their businesses.