What is the buying strategy of your small business? Do you shop around for the supplies and materials you need from a variety of different sources or do you aim to take advantage of the discounts and special offers likely to be available from a single supplier?
Striking a deal with a single supply may have all the advantages of more competitive pricing – and certainly saves you the time, hassle and inconvenience of needing to shop around for every purchase – but your business may need access to immediate additional funding to put any such arrangements in place.
That is where borrowing in the form of purpose designed Amazon loans may prove its value.
Procurement arrangements for your small to medium-sized business may take any number of different forms, but the multinational giant Amazon has recently become one of the leading sources of supply for businesses such as yours.
According to an article published by Business Insider on the 21st of November 2017, in the first 8 months since its launch the previous April, a new subsidiary called Amazon Business already had more than 90,000 business customers in the UK. Amazon was demonstrating its objective of becoming the number one supplier in the £100 billion e-commerce market in the UK.
Amongst the company’s stated goals to become a one-stop shop for all the purchasing requirements of SMEs in the UK, Amazon Business aims to:
- consolidate all your purchases into a single account, which maximises your access to competitively-priced supplies, but also improves your monitoring and control of expenditure on procurement;
- reduce costs by providing a single invoicing system for payments to multiple suppliers;
- reduce the time, administrative burden – and therefore cost – involved in essential purchasing;
- expand your range of options when it comes to procurement for your business;
- provide analytical tools to help you reconcile invoices against goods purchased and received; and
- build on the established reputation of – and your confidence in – the Amazon brand name.
To take full advantage of the potential offered by making Amazon Business one of your principal suppliers, your business may need a funding boost. It need not be a massive amount, and a loan of less than £50,000 may be all that you need to implement your new procurement plan.
With that in mind, Amazon loans need to be delivered to your bank account as quickly as possible and to offer the flexibility of easy inclusion into your current cashflows.
Procurement issues play a critical part of the increasingly fast-moving environment in which your business operates. You need funding decisions to be made quickly. That is why some lenders are able to field an online enquiry you make for borrowing any amount between, say, £5,000 and £100,000 and offer approval in principle almost immediately.
Following that approval in principle, the lender may then consider your formal application and, on the strength of a favourable decision, electronically transfer the requested funds to your business within the next two days or so.