THE DIGITAL REVOLUTION AND SMALL BUSINESSES
July 19th, 2017.



The digital revolution has reached every aspect of our lives, from apps that track our sleep patterns to the fintech disruption – an amalgam which describes the transformation of financial services and the way payments, savings and banking are carried out.


One of the sectors which have the most to benefit from digital innovations is SMEs. Adopting digital in all aspects of your business is a norm now and it’s important that it forms part of any small business plan. Here, we examine four aspects of the digital revolution that a new business must adopt to stay ahead of the curve: banking, accounting, website and online profile.

Banking
It’s a familiar story: a start-up with drive and innovation approaches their bank for a business account but are told the waiting time is two weeks. Even then approval for an account isn’t guaranteed; credit checks, address and ID verification can hamper the ambitions of the most unique business proposition. However, the situation is improving. Online challenger banks and fintechs are pushing the traditional account opening methods.....


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