English: Loan payment schedule of a 1-year, fixed-size payment loan with 3% monthly interest. Shows the accumulation of the interest, the payments and how much of the total cost consists of interest. The effective annual percentage rate is calculated. (Photo credit: Wikipedia)

How to Track Down Debtors Around the World

It is becoming less and less common for businesses to know their customers personally, especially if those customers live on a different continent. There was a time when companies only did business with their neighbors, people with whom their kids went to school. The internet has made it possible now to have customers who do not even speak the same language you do, much less have the same laws. While such a global economy has proved beneficial for many, it is not without its challenges. When laws vary by country, how will your company enforce contracts when payments are past due?

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The formula for growing your bank account is actually very simple. Either you bring in more money, or you spend less money. So what is the most successful approach? As in many other parts of life, moderation is the key. You will have greater success with your financial goals if you do a little bit of both decreased spending and increased earning. Focusing on one or the other instead of both can create too much stress for too little outcome.

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Your tactics - the way in which you go about getting your business; your five year plan for example. These are all strategically considerations and having a business plan in place will help to ensure you meet your objectives. Regular review of such a plan is recommended for maximizing your success.

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This is a question that is weighing on most business owner's minds these days, especially since the banking crisis and the bailout debacle of late. Many of the big banks, that we were so certain were too large to have anything to worry about, failed. The small banks were almost expected to fail.  But that only makes one wonder if the business account is safe anywhere. The truth is it isn't.