The Ofcom Mission to Improve Broadband for Small Businesses

As Ofcom introduces measures to improve communications for small business, Axis Telecom asks this week what they could mean for your company.

Axis Telecom are Passionate about Delivering Outstanding Customer Service

Being an energy and telecoms provider who are passionate about delivering outstanding customer service, Axis Telecom strives to give you the news you need to know about the latest events reshaping this country’s small business sector.

As such, when we discovered this week that Ofcom have engaged in a mission to improve communications – especially broadband – for small businesses – Axis Telecom knew that it was a move that could benefit your company’ bottom line.

Ofcom to Improve Small Business Communications

According to Tech Week, The industry watchdog has delivered plans to ensure that the small business community are able to reap the rewards of innovative and competitive communications. The regulator went onto suggest that super-fast broadband will be a vital component of their plans, as they look to fill in gaps in fibre coverage, as well as work with Westminster to further roll it out in both urban and rural regions.

Furthermore, Ofcom has said that future policies (especially those related to protecting small businesses) could be determined by talks the regulator is planning to hold with small business leaders. Meanwhile, this autumn will see them roll out a portal which will offer advice about choosing providers, resolving disputes etc.

Ofcom’s Work Will Protect the Vital SME Sector

Ofcom’s CEO, Ed Richards spoke out on the plans. Richards said that “we recognise what a critical sector of the economy the SME community represents, and how important digital communications technology is to this group of business consumers.”

He went on to elaborate by saying that “while there have been developments in the range of services available over the past decade, we’re still not confident that SMEs are benefitting as consistently as they should be from high quality digital communications. Our work will help ensure that the market is delivering for businesses of all kinds and to make sure that the right protection is in place for them if it isn’t.”

This Move Could Help Small Businesses Make Money

Axis Telecom believes this could only benefit SME’s going forward. Broadband is essential to making money in the modern world, therefore a move such as this, which among other things, looks to improve broadband service, can only help companies’ make money in the long run. 

Read More

PayPal to Provide UK Small Businesses with Cash Advances

Last week PayPal announced it would provide cash advances for UK small businesses. At Axis for Business this week, we ask how this could affect you.

Axis for Business Understands the Concerns of Small Businesses

We understand the concerns of small businesses here at Axis for Business. As a low-cost energy and utilities provider, who values long-term relationships with our customers, we are always striving to understand your needs.

This is why we understand the basic day-to-day concerns that come with funding. Ensuring you have the capital to carry out your day-to-day operations smoothly isn’t always easy, especially concerning online payments. This is why we felt we must report this latest development to you on the Axis for Business blog this week.

The PayPal Working Capital Fund

The BBC has reported that PayPal has announced that they are to start advancing cash to small businesses throughout the UK, as of later this year. They have said that they will provide funds based on customer history, which will provide “funding in minutes,” via the PayPal Working Capital Fund.

Specifically, the PayPal Working Capital Fund was designed by the online payments company to be an alternative to traditional bank loans and other lending services. Basically, they advance you the cash and they later recoup the cash. PayPal have gone on record saying that once this service comes into effect in the UK, they’ll only recoup the money when companies sell through PayPal services.

How Has the PayPal Working Capital Fund Fared Stateside?

PayPal has already launched a US version of the fund. They did so last September, and the operation of the US fund gives us some insight into how it may work this side of the pond. Notably, although the E-Bay owned firm declined to reveal the size of its UK fund, in the US it has released $140 million (£82 million) to customers since last September.

However, the fund has faced significant setbacks in the states. Last month, customers complained of unauthorised repayments being taken from their accounts. Since then, PayPal has gone on record, saying the payments were taken in error, and would be credited back to the customers. This suggests it as a one-time incident, and is unlikely to effect UK customers.

How Could This Affect Small Businesses Across the UK?

So how could this affect small businesses in the UK?  Essentially, it will relieve the strain of providing immediate capital to fund day-to-day operations, by literally providing that capital. This is a great development for UK-based small businesses, however it is one that must be handled carefully. It is still money that must be repaid. 

Read More