The Video Transcription:

It may be necessary to reach agreement with your suppliers for payment plans. It is very important that these payment plans are realistic and are capable of being achieved. Suppliers prefer realistic payment plans which are upheld rather than well-meaning, over-optimistic promises which fail after a couple of months.

It is a common failing of businesses in financial trouble. They wish to do their best as soon as they can for those suppliers who have been patient and supported them with supplies over the previous months.

The primary obligation is to survive so that you can pay back those suppliers and provide them with continued gross profit trading opportunities with your business.

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David Murray

David Murray

David is a fully and Highly Qualified Financial Accountant with an unblemished record for almost 30 years.

David has an extensive Academic Record including, inter alia – Gold Medal College of Commerce – First Place Chartered Accountancy (ROI) – Fastest Graduate to Qualify.

David has written many articles on International Trade Finance in Magazines and Sunday Business Newspapers. In addition, has been Late Late TV Show Tested on cases referred by them.

David has extensive Business Experience particularly in Property, Construction, Manufacturing, Equipment, Telecom, Service Companies, SME Sectors in Ireland, UK, Dubai, Poland, etc., Agent in Ireland Bank of Iran, Plc Bank Seminars “Finance for Builders”, etc., etc.

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