Preparing your business for hectic periods can be challenging at the best of times. Add the impact of the pandemic into the mix, and it can seem like an impossible task.
Cyber Weekend this year is going to be a very different affair. Consumers are physically unable to hit the high street on Black Friday, so all their spending is going to be done online over the Cyber Weekend. For any small business with an online shop, the opportunity for sales is magnified this year. However, the tough trading conditions so far this year may make the capital needed to prepare for such a hectic sales period more difficult to come by.
If you’re getting ready for Cyber Weekend, or are in need of a cash cushion or injection in the run up to Christmas, fear not! Our partner, Swoop is here to help.
As an ecommerce business there are a number of options you may like to explore to help bolster your business during this busy period
Let’s kick things off with a Merchant Cash Advance (MCA). Linked to your card terminal sales, a MCA can be agreed within 48 hours, providing a short-term cash injection which can then be used to stock up on supplies.
Needing to invest in equipment? Or looking to use vans to deliver goods to customers? Then Asset Finance could be the option for you. Offering an alternative to traditional bank loans and overdrafts, Asset Finance enables you to make a sustainable investment in equipment without using up working capital.
Buying or selling goods abroad? UK businesses are overcharged by approximately £4bn per year on foreign currency exchange rates. Make sure you’re locking into your profit margin and not paying too much on your international payments. Shop around and make use of Swoop’s FX comparison tool.
And that’s not all. Switching or opening another bank account can be an effective way to make savings in the very short term across your cost base. Start comparing and get the best deal on your business current account.
Protect your business
With online demand significantly higher this year, the threats against your online business will also be higher. To help protect your business against a multitude of online threats, check out these 10 tips to navigate the risks of a locked-down Cyber Weekend.
Swoop provides free access to all of the funding and savings options above, as well as access to e-commerce specific lenders.