Read the latest news about alternative business finance.
New research reveals around a third (34 per cent) of small business owners find attracting new customers to be their biggest challenge, followed by the struggle of accessing finance (29 per cent). In today’s market, there are multiple sources of information available to help with your marketing strategy as well as a range of alternative finance options to help you access finance quickly and easily. Setting aside some time to focus on these areas will make a difference to you and your business.
The report suggests that over a quarter (27 per cent) of business owners felt their current marketing strategy was not as effective at attracting new customers as they’d hoped, while nearly one in four admitted they’d benefit from advice on how to improve it.
If you feel you could use some help in preparing your businesses marketing strategy, consider working with a specialist to guide you in this area. Investing more resources into your marketing strategy can overall help your business grow because an effective marketing campaign will target specific audiences that are more likely to interact with your brand. The research revealed that 58 per cent of business owners claimed to spend less than 10 per cent of their monthly revenues on marketing their business, while just 5 per cent spent more than 50 per cent.
Securing finance is the second biggest challenge that small businesses are facing, nearly half of businesses surveyed said they have found it difficult. Shockingly only 4 per cent of the businesses interviewed said they found it easy to secure finance.
One of the main reasons they find it difficult is due to feeling intimidated whilst pitching to investors. Even though many entrepreneurs are often seen as confident business people, when it comes to seeking alternative finance options it can be a daunting experience.
A business cash advance is a quick and simple alternative finance option available to businesses who are accepting card payments. The application for finance is completed over the phone and all you need to provide is your recent card processing statements. You’ll have a dedicated advisor who will take time to understand your business needs and will always be on hand to support and guide you through the process. Once your application is accepted you’ll receive your funds in as little as three working days.
A business cash advance is the ideal type of funding to help you invest in your marketing strategy as you won’t be tied to a long, fixed repayment term. Typically, a cash advance takes around six months to repay and your payments are totally flexible in line with your daily card sales. This means you’ll pay back as you earn from your customers and you can start to reap the benefits of your improved marketing strategy!
If you’d like to find out more about alternative finance options, contact Quick Capital on 0800 3777 402 or visit www.quickcapital.co.uk/cash-advance