What are Suppliers?

Suppliers are individuals or organizations who provide goods and services to a business.

How it Works

To operate, a business will need to buy goods and services.

The business may pay cash for some of these goods and services.

​That is, they take money out of the bank and pay straight away.

At the same time, though, it will buy goods and services on credit. 

​This means the business is allowed to pay for the goods or services later.

The business buys the goods and services from suppliers. 

Typically, a business will have many suppliers.

​Some will be individuals, such as tradespeople.

​Others will be a company or corporation.

© R.J. Hickman 2020