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7 Ways Freelancers and Small Businesses Can Ensure They’re Paid

From the Check out some of the week's best finance reads from experts series
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Freelancers and small businesses can protect themselves by having clients sign contracts and provide upfront deposits.

Few people want to work for free. However, some small-business owners and freelancers are doing just that, according to the Independent Economy Council. In an October 2021 survey of self-employed professionals across a range of industries, 72% of respondents had invoices that weren’t paid by clients for completed work.

In addition to being frustrating, not being paid for your work directly impacts your cash flow. Tapping into personal funds, accessing a line of credit and securing some type of short-term loan are options you may consider when experiencing a cash shortage. However, these temporary solutions aren’t ideal and may not always be available. Instead, here are some steps you can take to help avoid nonpayment issues.





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