But we forget some very important factors:

Small businesses need the money in a more timely manner than bigger vendors, because they do not have the "float" available to larger companies. It's only human nature that small business owners will not rush to do work for those who don't pay them on time (which may be the reason why your computer guy stops giving the prompt service you'd been accustomed to). Remember -- it's a small world -- and small business people may tell many others about customers who do not pay on time (and really, this is bad public relations).

So, the next time you're tempted to hold off on paying a small business vendor, think again. You could be creating a lot of negative public relations for yourself and your business. Be aware that the check that is "bounced" or "lost in the mail" can cost you far more than you realize. Better to sign up with your bank for overdraft protection. Or, if things are really tight, be up front and honest with your vendor, and make every effort to make payment as soon as possible.

By doing the right thing, you're maintaining your business integrity and your good name -- and you'll get to the front of the line as a preferred customer!

Labels: P.R., public relations, small business