Will “on time” payment ever be common in China?
This year, you may be struggling NOT because your business is doing poorly, but because clients are deliberately withhold payment.
They either can’t pay (have no cash) or won’t pay (hoarding cash). This is true everywhere.
COVID-19 has become a catch-all excuse for poor performance and dodging financial obligations.
But the reality is that brands based in China rarely pay us on time.
The ONLY difference is the LENGTH of time that it takes to get paid is being stretched farther and farther. It has gotten to the point of “ABSURD.” Consider that several clients didn’t pay us for 6 to 9 MONTHS!
Perhaps I should abandon ship for a more lucrative trade… banking.
You keep the profits and the government covers all your bad bets.