3 Steps to Get Net-30 Terms
It's middle of the month and depending on which way you look at it we've either gotten over or started to feel the anxiety and stress of paying our monthly bills.
As a business owner, we're doing our best to pay our monthly expenses on time while investing to grow the business.A key pillar of our business growth comes from our strong vendor relationships and establishing net term agreements.Those that are not familiar with net term agreements, net term is a specific type of trade credit where the payment is due in full 10/15/30 days after the item is purchased.
Here are the 3 steps that we take to grow a relationship with our vendors to establish a Net-30 Term agreement.
Step 1: Build a relationship with your vendor supplier.
Step 2: Build up credit references & Provide payment information to supplier to charge to insure they can get payment.
Step 3: Start by asking for a small credit limit at Net-10 terms then build up to Net-30.
Start building strong relationships with your most frequent vendor suppliers and apply the 3 steps to attain Net Terms that will assist towards the growth of your business.
We thank you for your time and feel free to leave comments.
Elaine Paquette 06/29/2017
Tasheba Gordon 06/16/2017