Are you owed money by another business? You MUST do this before you do anything else:
Obtain their ABN and verify what their business structure is.
Knowing this information is absolutely vital if you want to get paid. The Australian Government’s ABN lookup site www.abr.business.gov.au is a goldmine. Run the customer’s name through that and do whatever you possibly can to find their ABN. Try their website at the bottom in the “Privacy Policy” or “Terms and Conditions” section. Look for it on previous receipts or remittances they may have sent you. The sooner you have their ABN the better. Their structure (Pty Ltd company, sole trader, Trust or Partnership) will determine your next step and once you know which one they are, this will give you tremendous confidence. If they’re a Pty Ltd company and they owe you more than $4000 which isn’t in dispute then serving them with a Statutory Demand is your best option. If they’re a sole trader then suing them will impact their personal credit file so use this leverage. If they’re a partnership then contact the other partner and request payment from them. Remember, both are equally liable for paying you even if they know nothing about it.
Knowing your debtor’s business structure gets you one step closer to your money. Bookmark the ABN Lookup site and make it your best friend!
Cheers
Are you owed money by another business? You MUST do this first