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Payment Solutions Driven By Perfection
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Small business owners, entrepreneurs and people in charge of SMEs often understand the importance of a flexible payment solution for business growth. However, it’s also important that they understand the growth of the internet and what mobile payment solutions have to offer.

Unfortunately, far too many SME owners don’t have these basic skills. Even worse, many recognise the problem, yet aren’t making the changes required to address the gap in their digital skills.

This is according to research found in Lloyds Bank third annual UK Business Digital Index. Apart from implementing the necessary payment solutions for their business, 38% of the 2,000 surveyed small businesses across the UK admit to lacking basic digital skills. Another 78% of sole traders also admit to doing nothing towards developing these skills.

It’s not the end of the world for business owners who feel left out of the digital loop, though. The right payment solution provider can work with small businesses to lay the digital foundations to support future growth.

Having a strong relationship with the right payment services provider can open up a world of new financial opportunities for any business. Looking to grow your company and enter new markets? Read our blog 'Can a consultative payment services provider boost SME growth?' to find out more.

Lacking digital skills include social

Despite its accessibility, an astonishing 24% of small business owners and managers aren’t currently using social media to promote their company, according to Clutch. What’s more, 8% also believe that they’ll never use social media to promote their business, which is a potentially serious growth opportunity missed. This is especially the case when considering younger markets, who expect a flexible and convenient service as standard.

According to research from MarketingSherpa, 95% of online adults between the age of 18-34 are likely to follow a brand via social networking. With over 40 million active small business pages on Facebook alone, the online competition is fiercer than ever for those that want to carve a niche in their market.

It’s understandable, though, that with the sheer noise of the internet (including numerous social media platforms) some small business owners – especially older ones – may lack the confidence to approach the opportunities that the internet has to offer.

A progressive payment solution is essential to business growth

Thanks to the growth of the internet, consumers are also becoming more attuned to contactless and mobile-based payment solutions such as Google Wallet and Apple Pay.

The changing nature of the digital realm makes this more than just a progressive payment solution that small businesses and SMEs can offer their customers. The influence of the internet on people’s lives cannot be overstated. For merchants, complying with technical issues, due diligence and regulation can seem like a headache, but the right digital offering could transform their audience.

Why it pays to pair with a payment solution provider

Now even tax is being managed digitally, and small business owners are being targeted by the recent spring budget.

This is a trend that’s not going to go away. Now could be the perfect time to partner with a payment provider that understands your needs and can take care of the technical side of your finances.

The right payment solution provider will not only work to help your business reach financial compliance, but help you to grasp the digital opportunities that can potentially grow your business.

Contact Fibonatix today to find out more about our unparalleled customer service, and how we can find the ideal payment solutions to help your small business grow.

Having a strong relationship with the right payment services provider can open up a world of new financial opportunities for any business. Looking to grow your company and enter new markets? Read our blog 'Can a consultative payment services provider boost SME growth?' to find out more.

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