Growing pains: How do I start accepting larger payments?

Stan V


I have been running a small decorating company for a long while and usually generate revenue in the £10,000s each month.
I've just been approached by a client and they want to offer a large project, more than all the work I get from all my clients at the moment but they only want to put a deposit to start and pay the rest on completion. As I usually deal with smaller clients I usually receive all or the majority of the payment upfront.

I am aware that taking on a larger client can use up a lot of my resources which is why I am reluctant to only take a small deposit to start with.

How can this be handled?

I can get the resources on load/credit but then if the project fails mid-way through I could be in loss. What protection can I get that if I accept the project that I will get all payment on completion or if the buyer cancels midway I wont be left with a loss?


Other discussions

Andy Timms
Real Estate, General, Advertising, Marketing & PR

Using websites like Checkatrade or Book a Builder for B2B?
Has anybody experience of using such website for B2B or commercial work. I feel as through they are more geared towards consumers, household, or general handymen workers.
I have a property development company and not sure if it is worth looking for customers on these websites.

Archie Williams
Finance, General

Hi all.
Ill try to keep it short.
I am self-employed. A few months ago I was involved in a road traffic incident where the other party accepted total responsibility in writing. During the following days I was unable to work, however subcontracted the work which could be, again I have this in writing.

Daniel Reeves
Landlords, Real estate investors, Technology

Will we ever see a point in time when more people are working from home?
Given the circumstances its difficult to see a point where as many people will be working from home as they are currently.
There’s plenty of sources saying working that they are impressed by the results and found working from home more beneficial than previously thought.