Which of the following is the BEST way for small businesses to speed payments?

Question

Quizplus · Accepted Answer

Establishing a personal relationship with customers can help small businesses speed payments by creating a sense of loyalty and commitment. Customers may feel more obligated to pay on time if they have a personal connection with the business owner. Being friendly, responsive, and professional can also encourage customers to prioritize payments and maintain a good reputation with the business. Threatening legal action or sending numerous collection letters can often damage the relationship and make it less likely for customers to pay promptly. Offering a repayment plan may help in some cases, but it should be used as a last resort and may not always be feasible for small businesses with limited resources.

Which of the Following Is the BEST Way for Small