Working as an independent contractor can be equal parts liberating and frustrating. Although there are many advantages to being your own boss, you’ll also need to attract a steady stream of clients to keep yourself financially afloat. This is further complicated by the fact that clients don’t always submit payments in a timely manner. However, this doesn’t mean that contractors should sit idly by and wait for late-paying clients to realize their mistake. The next time you find yourself faced with a late payment, put the following pointers to good use.

Submit an Invoice

A substantial number of late payments are directly attributable to miscommunications. For example, some clients expect contractors to submit invoices, while others don’t. This often creates confusion, as both parties expect the other to take the initiative about payment collection. The next time you have a late payment on your hands, don’t hesitate to submit an … Read more

Starting your own business can be a terrifying experience if you do not prepare sufficiently. There are a number of things you have to consider when laying out the game plan for a new business, and financing your new business is a process that has a number of potential avenues. Some people rely on Startups sourced through different websites online, which gives you access to a large number of people willing to make small investments. Others may prefer limiting the number of their investors, so they rely on independent investors, typically no more than two, to fund their business. Funding can also come from corporations, such as a bank, and require you to take out a loan with a certain amount of interest. Paying out of pocket is not a feasible option for most entrepreneurs but depending on how much time you have spent saving, it is possible.

There is … Read more