Wilson Cole's Podcast From The Road

Credit risk is an issue that many types of firms will have to deal with regularly. These credit risks threaten your business’s stability, so you need to know how to deal with them. Engineering firms are especially at risk if they are betting on that one big job or large contract. In today’s Monday Morning Memo, Wilson and Samantha Cole go over a few things that engineering firms need to do to minimize their credit risk. How Engineering Firms Can Reduce Their Credit Risk Minimizing credit risk is a challenge that can have a significant impact on your business based on how you handle it. You can effectively reduce your credit risk and consider it a minor nuisance, or you mismanage your credit risk, and you’re put into a situation that puts your business on the line. So to prevent that from happening, you need to reduce your credit risk the right way. Pull Credit on a Company A great way to make sure that you minimize the risk involved when it comes to working with someone is to pull credit on them. It shows you