Managing misinformation and maintaining online visibility is becoming increasingly challenging for small businesses. How can these firms afford to respond and better position themselves?

In an ever more digital marketplace, where managing misinformation and fake reviews and maintaining online visibility is critical, smaller firms are being increasingly shut out and are finding it harder and harder to compete.

According to research from B2B Stars, almost half of senior leaders at SMEs that took part in its survey revealed that their business had suffered a setback because of misinformation or fake reviews relating to a prospect or supplier, while a significant number are struggling to get traction on search engines.

Misinformation and fake reviews and their impact on smaller firms

While there is a clear link to cybersecurity, but there is also another key element at play here: how a lack of resources is putting smaller firms at a disadvantage in terms of dealing with misinformation and fake reviews, and using search and engagement tools.

In short, smaller firms are struggling to compete with larger rivals when it comes to navigating the challenges of an increasingly digital marketplace, such as the proliferation of misinformation and fake reviews and inadequate search and engagement tools. In a world where visibility is everything, these factors are combining to digitally bury smaller firms, and this has a cost.

According to the B2B Stars study, inefficient search and engagement tools are costing SMEs an average of £93,000 per year, with almost a third of firms losing business opportunities as a result. Furthermore, nearly 50% of SMEs named a lack of visibility as their greatest challenge, with almost three quarters admitting to finding it hard to gain online visibility.

Levelling the visibility playing field and how alternative finance can help

At the heart of small business struggles with misinformation, fake reviews and inadequate search and engagement tools is cost. And this is hardly surprising for financially squeezed firms that remain under the cosh amid still depressed market conditions.

So, how can these businesses afford to do better when it comes to gaining and maintaining online visibility and managing misinformation and fake views?

Alternative finance can help.

Services such as invoice finance, asset finance and peer-to-peer lending are proving a vital source of capital for small businesses in the current funding climate (with 65% more SMEs experiencing difficulty in accessing finance from high-street banks). These alternative finance facilities, which offer a more easily accessible, affordable and personalised approach to lending, are helping small businesses survive and target recovery, stability and growth.

This profile has helped cement the reputation of alternative finance in the business sector. Notably, the new Growth Guarantee Scheme will provide a wide range of finance facilities to smaller firms, including asset finance, invoice finance and asset-based lending. This is further proof that alternative lenders are increasing filling the small business funding gap.

Small firm finance options for investing in better online visibility

At a time when the importance of online visibility, in particular for B2B firms, needs little reiterating, smaller firms are falling behind, principally because of the costs involved. But they have to find the resources to keep their face in the game and remain competitive. This is why, when it comes to safeguarding cash flow, it is vital that businesses are aware of all the finance options available to them, including the services of alternative lenders.

To find out more about A&T Business Associates services, contact Tony Hedger on 01903 602211 or tony.hedger@atbusinessassociates.co.uk.