The UK is set to be a high-growth mobile shopping market this Christmas. The earnings potential for retailers is considerable but the technology doesn’t come cheap. Alternative finance can help SMEs upgrade.

Christmas is a vital shopping period for small retailers. Festive revenue can make or break the financial year and this year is set to see the biggest mobile shopping spend on record. For small business owners to take advantage of this boom, they have to have to right technology.

A new report from CJ Affiliate shows that UK consumers accounted for just under half of online orders made using a mobile during the 2016 Christmas period in the UK, France and Germany. Given the pace of consumer mobile shopping growth in the UK, this rate is expected to rise in 2017.

However, the number of businesses able to benefit from this booming market isn’t as large as it should be. PayPal reported earlier this year that small businesses are dragging their heels when it comes to upgrading their mobile shopping technology, such as mobile-friendly websites and contactless payment systems. The launch of Fingopay makes it clear which the way the wind is blowing in terms of how consumers are shopping.

Businesses that get left behind in terms of mobile shopping run the risk of being left out of pocket. And a downturn in Christmas revenue is the last thing small businesses need as they face Brexit-borne market uncertainty and myriad policy-related costs.

With regard to the latter, investment in mobile shopping technology automatically puts a greater emphasis on cyber-security enhancement and GDPR compliance, which both come with a sizeable bill.

So, how can small business owners afford the upgrade? Alternative finance can help. The likes of invoice finance, asset finance and peer-to-peer lending have become mainstream small business finance services, and are proving a lifeline to many companies that are keen to expand but are finding accessing finance a challenge.

This is how a business in West Sussex has used peer-to-peer lending to raise the cash they needed for new equipment.

With the critical Christmas shopping period only a matter of weeks away, it is clear that small businesses can ill afford to miss out on mobile shopping spending. Alternative finance can help make sure they don’t.

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