7 ways to get paid faster as a small business

Habits that work

• Send the invoice the same day the work is done, while it is fresh in your client's mind.
• Put a clear due date on it, not just "payment terms".
• Make paying effortless: a UPI QR for the exact amount beats bank details people have to type.
• Share where your client reads messages, which for most Indian businesses is WhatsApp.
• Ask for an advance on big jobs and show the balance due on the invoice.
• Send a polite reminder on the due date, and another a week later.
• Record part payments so everyone sees what is still owed.

If you are an MSME

Under the MSMED Act, 2006, a buyer must pay a registered micro or small enterprise within the agreed period, which cannot exceed 45 days. Late payments attract compound interest at three times the RBI bank rate. Since FY 2023-24, buyers can also lose the income-tax deduction for such payments if they pay late (section 43B(h)). Mentioning your Udyam registration on invoices helps.

How Fliss Invoice helps

Every invoice gets a UPI QR for the balance and a WhatsApp share button. You see when a client opens it, overdue invoices flag themselves, and reminders go out with the invoice attached.