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However, the picture painted by Jem/AP was of SMEs frequently & consistently taking on business with no real idea of when they are going to get paid. I just doesn't make sense to me that this would be the case.
And presumably they take this risk into account when deciding whether to take the business or not?It mightn't make sense to you but it is believe me it is 100% fact. The best that a small business person can normally do is to try to suss out some information from personal contacts as to the integrity (ie the credit worthiness) of their customer, in advance of either taking on the assignment or completing the work to a certain stage where they would be badly exposed if things go wrong. Obviously if they hear something alarming they can take appropriate action but otherwise they have little option but use their gut instinct and operate on the basis of trust from there on.
I disagree with some of your comments about boardroom skullduggery. Arthur Anderson had 100's if not 1000's of accountants working on Enron, many of whom had visibility to the flawed corporate structure. It was not a case of boardroom skulduggery with the secrets being whispered by the chosen few - Anderson's were well known as having an extremely aggressive culture in all aspects of their business..... Indeed I declined a call from a recruitment agency in relation to Anderson Consulting many years ago, because of what I knew about their culture.
Indeed I declined a call from a recruitment agency in relation to Anderson Consulting many years ago, because of what I knew about their culture.
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