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Catch me if you can

Con-artist

The title of this post was inspired by the movie, Catch Me If You Can,  a biographical film about the life of Frank Abagnale.  He was a con artist, posing as a pilot, doctor and other roles, issuing fake checks for services. The movie follows the FBI agent chasing Frank across the country as he commits one fraud after the other.

Zero intention to pay

The modern version is where you deal with customers that have zero intention of paying what was agreed upon. They willingly accept the contract, quote and invoice.  They may even make the initial deposit. After the work is completed, in their mind, they do everything they can to avoid paying the outstanding balance.  Sometimes they provide fake information, making it difficult to track them down. Or they simply change their cellphone number and move on to the next victim.

Cost-Benefit

In the unlikely event you find them, they are unfazed by legal recourse. They already have a low credit score.  They know that a small business lacks the legal resources to pursue them, given the time, cost and legal procedures that are required.

Catch me if you can because the money is never coming with these types of customers. 

coins, currency, investment

Cash future

  Over the years, having trained, mentored and supported entrepreneurs throughout the country, I regularly find they have an all consuming relationship with cash (or the lack of it) in

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Catch me if you can

Con-artist The title of this post was inspired by the movie, Catch Me If You Can,  a biographical film about the life of Frank Abagnale.  He was a con artist,

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savings, budget, investment

Late payment to SMME’s

Cash flow is the lifeblood of a business.  Unfortunately SMMEs in South Africa have been on the receiving end for a long time. SMMEs are left waiting payment, month after

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What is a Bad Debt?

Bad Debt  Bad debt is amount owed to the business, that will not be collected/received Bad debt is shown under Expenses in the Income Statement Bad debt will reduce Debtors

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What is the Debtor Schedule?

Debtor Schedule Debtor schedule usually prepared with the cash budget Debtor schedule shows R to be collected from debtors over the budgeted period Debtor schedule used for planning, budgeting and

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