Running a small business is no mean feat. There are so many plates to spin, and you are solely responsible for every department from IT all the way to sales and marketing.
Add to that the pressure of balancing the books, and it’s hardly surprising that freelancers and small business owners are susceptible to stress — with finances a major shared concern.
According to Quickbooks, 71% of entrepreneurs have lost sleep worrying about late payments. And a recent study by Fundbox found that when clients miss invoice due dates, 79% of small business owners can’t pay themselves at the end of the month.
So what can you do to avoid sleepless nights and lack of personal income? Simple: charge a late payment fee.