It’s often said that January is the cruellest month in print, but the start to 2024 seems to have been more brutal than usual.

Those businesses that limped into the tail end of 2023 hoping for a Hail Mary, were bitterly disappointed, and as a result the industry’s insolvency rate, anecdotally at least, was at its highest level for a long time.

There are of course multiple reasons for this spike, many of which are well beyond the control of the average print boss, but what isn’t is customers forcing through elongated payment terms.

Because while the symptoms of the insolvency may be varied, the killer disease is always the same – straitened cashflow. And if your customers are taking longer to pay you than you pay your suppliers – then that’s self-harm, pure and simple.

In an ideal world, legislation would protect companies from being bullied into becoming the lenders of choice for struggling big businesses. 

But while successive governments have talked the talk, they have only managed to drive change through their own departments and public bodies. A drop in the ocean.

Let’s face facts, it’s up to put upon businesses to collectively stand tall and say: No!

Not an easy conversation, and perhaps not a quick one either, but the pushback has to start somewhere so with the new financial year dawning now is the time to put some plans in place to manage out customers that don’t adhere to YOUR payment terms.

And the next time a customer asks you to extend terms, simply send them a list of the companies that perished in January.

And if you need your resolve stiffening, then perhaps flick through the Printweek Awards shortlist, because I strongly suspect those featured have no truck with obscene payment terms. So, why should you?

And if you need your resolve stiffening, then perhaps flick through the Printweek Awards shortlist, because I strongly suspect those featured have no truck with obscene payment terms. So, why should you?