Adapting Your Business To The Digital AgeFebruary 1, 2017
The way our customers are choosing to do business is changing forever. Although hard cash is still widely used, more and more of us are switching to digital and card transaction technology and, in order to keep up, businesses need to constantly adapt. As it stands, just under half of all UK-based SMEs haven’t yet embraced the benefits that can be derived from the digital revolution occurring right under their noses.
And it’s not just in transaction technology but also the way we in the business community choose to express and deliver our goods and services is changing. Just as Brechtian theatre has always sought to break down the 4th wall, UK SMEs must do the same and bridge the gap between their customers, staff members and business owners alike. Businesses that have adapted to this change now have the ability to communicate, advertise and deliver directly to their target audience. Their customers are also feeling the benefits and can check stocks, make quick purchases, check allergy information, give reviews, effortlessly view the latest promotions and much, much, more!
However, with the SME community accounting for around 60% of the private sector’s total GDP, having nearly half of SME businesses failing to realise these benefits is extremely worrying. As business technology continues to grow ever onwards, life for those businesses could become extremely challenging. This must change.
Embracing the digital age
With more and more customers wanting to conduct their business digitally, UK SMEs need to adapt. Failing to do so could see your customers choosing to go elsewhere, causing you irreparable harm in the long run. This is why we at Rangewell are offering our services and helping SMEs discover their finance options.
Many business owners are still unaware of the major benefits of business technology and still view it as an unnecessary expenditure but, with access to external funding, they can feel free to experiment and expose their business to a realm of infinite possibilities. With our help, your business can benefit from the perfect finance solution, including: Business Loans, Leases, Hire Purchase solutions and more!
Business Loans: Utilising a loan finance solution, you could gain a lump sum ranging from £5000 to £1 million and use it for anything from: purchasing PDA’s, EPOS systems, website building, funding any installation costs and so on. Unsecured loans let you borrow money for your business without putting assets, such as your house, at risk. To reassure the lender, a guarantee that you’ll pay the money back in due course will be required. Meanwhile, a secured loan may allow you to borrow more money as it boosts lender confidence. The reason is that assets can be sold to recover costs should a business fail to repay the loan.
Leasing: A great option for those who are yet to be convinced or simply don’t want to be encumbered with the burden of ownership. This is a great way to experiment with some the equipment on offer. Instead of making a purchase, you’ll be borrowing equipment and hardware for a period of time and will be required to make monthly payments. Leasing terms can last from 1-3 years, subject to your agreement.
Hire Purchase: If you’re finding yourself short of cash, but want to purchase equipment and other pieces of hardware essential for digital business technology, this is the product for you. Before you can receive any of the equipment, you’re required to pay an initial deposit pertaining to 10% of the asset’s total worth. From here on, you’ll then commence with repaying the remaining sum through monthly payments. Once full payment has been made, plus interest, ownership passes on to you.
Our values are simple – We’re on your side.
At Rangewell, we support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.
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