According to Mr Stanton, businesses with leaner resourcing can benefit from time otherwise spent chasing unpaid invoices.

“Medium and small business do not always have the resources to pursue the slow payers or bad debts," Mr Stanton said. 

“Our offer to clients includes a letter of demand at no cost as well as two follow-up phone calls to the debtor. Should this fail to get a result we have a fixed-fee system in place to commence legal proceedings.

In a statement released by the firm yesterday, principal Dan Creevey said the debt recovery arm would assist clients to improve their business cash flow and chase down unpaid invoices.

“We aim to help businesses operate to their optimum level by enabling them to focus on their business operations, not chasing debts,” Mr Creevey said.