Standing out from the crowd has always been a golden rule of business, but perhaps now more than ever it is vital that small businesses are doing everything they can to generate sales. But getting a competitive edge comes at a cost. Alternative finance can help fund it.

This article from startups.co.uk offers some good advice on how independent retailers can stand out from the crowd. It’s relevant for other small businesses as well. The article discusses websites, social media strategies, physical and digital store layout, customer communication and product promotion, and the value of customer loyalty.

It’s all useful for small business owners working to stay ahead of the competition. It’s worth noting that there is plenty of evidence on what happens when established retail players plot the wrong course – Mothercare, House of Fraser and Marks & Spencer have all recently announced huge store closures.

Of course, buying the right type of computers, building websites, setting up and using social media, getting store design right, and engaging and keeping customers all costs money. And at a time when small business owners are having to manage a range of costs relating to the likes of cybersecurity, business rates, late payment and the national living wage, and margins are already being squeezed thin, finding the resources to invest in this kind of development can be difficult.

This is where alternative finance can help. With traditional lenders remaining cautious when it comes to small business funding, the likes of invoice finance, asset finance, peer-to-peer lending and crowdfunding are offering small business owners an alternative means of accessing vital capital. These facilities are enabling these firms to safeguard cashflow and investment in development, and more and more of them are using them.

This is how a small business in Sussex used peer-to-peer lending, through a commercial finance broker that specialises in alternative finance, to access the capital to buy new equipment.

The market is challenging for many firms at the moment but, at the same time, those conditions are an opportunity for businesses to establish a strong position in their sectors and get an edge over rivals. For this to happen, access to finance is critical, and small business owners need to be aware of all the funding options available to them, including alternative finance.

To find out more about A&T Business Associates services, contact Steve on 01903 602211 or steve.bowles@atbusinessassociates.co.uk.