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Posted: 12:00 a.m. Friday, Aug. 13, 2010
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Clark takes a lot of calls from freelancers and entrepreneurs saying they are increasingly having troubles getting paid for their services. It's become a huge problem for independent contractors.
If someone doesn't pay you, the only real option right now is going to Small Claims court. Sure, it's a hassle, and further damages the business relationship, but the damage was already done with the non-payment.
Clark sees a real business opportunity here for someone: He'd like to see a website that allows independent contractors to rate how well, or how poorly, a company pays. After all, companies routinely pull up Dunn & Bradstreet reports on other companies they might do business with. Why shouldn't freelancers have a similar tool -- like a Yelp! for freelancers? Who's up for the challenge?
In the meantime, contractors need to establish payment terms up front with any potential company they might do business with. If you're dealing with a smaller business that might not be able to pay all at once, take steps to make payment easy, such as setting up a PayPal account. The key is get your money as quickly and efficiently as you can!
Note: This segment originally aired in May 2010.
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