Byon 23 October, 2020
*This is a financial promotion with American Express.
At American Express, we’re proud to have served small and medium-size enterprises (SMEs) around the world for more than 60 years. As a leader in the B2B payments industry, we’re passionate about helping SMEs to reach their full potential.
After all, SMEs are the lifeblood of our economy and represent a vast number of organisations in every sector and industry. They account for exactly half of the total revenue generated by UK businesses and their success is therefore of fundamental importance.
We’re committed to doing everything we can to support our business customers through these challenging times, so that they can focus their valuable time on safeguarding the future of their business. It’s fair to say that for many of us this year has not turned out as we expected, so we believe this is more important than ever.
Our own research shows that managing cashflow and access to finance continue to be sticking points for businesses. Well over half (59%) of UK SMEs believe that managing cashflow has become even more important over the last six months. We also know that the new operating environment has changed the way they buy goods and services, with many putting off bigger ticket items and 38% only buying the ‘essentials’ they need to keep their business operatingii.
Today’s uncertain environment has also further accelerated other shifts in the way businesses manage their operations, finances and expenditure. For example, the trend towards digital commerce, where we’ve seen an increase in demand for B2B payments, and where many UK businesses have quickly joined or developed new e-commerce solutions as a fast and efficient means of operating.
Put simply, technology is rapidly transforming how companies small and large run their businesses, with more and more switching to automated, software-based solutions. Among our customers we’ve seen that business owners are looking for the kind of intuitive, simple, and easy-to-use business payment experience they have with their own personal financial products. We also see them place real value on being able to access data and insights they can use to strengthen their business, take control of their finances and make more strategic spending decisions.
All this is why we’re pleased to build on the global relationship between Amazon and American Express with the launch of new Business Cards, aimed at small business owners in the UK. The Amazon Business American Express Card and the Amazon Business Prime American Express Card offer a host of rich rewards and payment flexibility designed to help businesses manage their cash flow and gain greater insight into their spending. The Cards provide an enhanced check-out experience on Amazon Business UK and Amazon.co.uk that gives Cardmembers the option to earn Amazon Rewards points or select a deferred payment term for each transaction, enabling them to make the best payment choice for their finances (Terms apply)*.
The Covid-19 pandemic is continuing to present businesses of all sizes with unprecedented and unpredictable challenges to commerce and payment norms. As such, businesses will need to continue to be flexible and forward looking to manage their operations effectively. At American Express, we are fully committed to supporting businesses through these difficult times and helping them to futureproof their finances as we move into 2021 – whether that’s helping them make fast and efficient payments, maximise their working capital or taking control of their financial management.
*Representative 32.6% APR variable for both Cards. Terms and conditions apply. Subject to approval, 18+. American Express Services Europe Limited is authorised and regulated by the Financial Conduct Authority.
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