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