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SME: driving innovation forward

Published on 15th February 2017 - Last update on 14th January 2020

Despite the challenges of running a business, and the turbulence in the UK economy, innovation remains a key priority for SMEs. In fact, despite everything, around 70% of SMEs aim to further invest in high-quality business tech. Sadly though, less than 50% have embraced the technological revolution occurring in the UK business community up to now. However, could we see that change?

The future of business

Despite the uncertainty and the challenges lying ahead, British business is proving its resilience. New and ever more exciting forms of business tech are constantly being rolled out. With an insatiable appetite, SMEs are as eager as ever to secure the latest tech and reap the bountiful rewards.

However, for those who are concerned about the potential costs, there’s no need to worry. Regardless of whether you lack sufficient funds or want to avoid taking a blow to your capital, Rangewell can help. With our services, you can secure and experiment with the latest tech revolution has to offer. Our goal is to find the perfect finance package to suit your business’s needs, including asset finance.

Funding the way of the future

The way our customers do business is changing. Although cash is still king, many are now switching to card and digital currencies. If a customer can’t pay using the method they prefer, it’s now more likely than ever that they’ll take their business elsewhere, leaving a dent in your cash flow. So, with the rise of business technology, a new kind of arms race has begun in British business.

However, if your business lacks sufficient funds, it needn’t be the end of the road. You can still maintain that all-important competitive edge in your local area by applying for asset finance. This is your one-stop package for acquiring and equipping everything you need to excel and expand the digital arm of your business, including Business Loans, Leases and Hire Purchase solutions.

  • Business Loans: Starting from £5,000 to as much as £1,000,000, you could secure the sums you need to acquire everything from EPOS, chip and pin, PDAs and even cover installation costs. Typically, loans are offered as either secured or unsecured. Secured products will require you to set down assets for security, whilst with unsecured products you do not. To increase the sum you may get unsecured, you could apply for a personal guarantee, stating your commitment to repaying the product in due course.
  • Leases: If you’re hoping to acquire equipment for a period of time and not be encumbered with the burden of ownership, leasing is an exceedingly useful tool. You could make use of an asset for a period lasting between 1 – 3 years in exchange for committing to monthly payments. Once the term is finished you can either give the asset back, extend the leasing term or present a buyer.
  • Hire Purchase: Great for securing equipment when you’re short of the necessary funds. Hire purchase agreements are an excellent way of eventually owning a piece of equipment. A lender will, on your behalf, purchase the concerned asset. Upon paying an initial lump sum in the region of 10% the asset’s total value, from here on, you’ll be required to make monthly repayments. Once the repayment scheme is concluded ownership passes on to you.

Our values are simple – We’re on your side

At Rangewell, our services are clear and transparent. 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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