Entrepreneurs are encouraged to make updates to their business technology to stay competitive this Christmas.

Only seven per cent of the small business owners surveyed stated that they invest in business technology to combat peak periods, like Christmas.

The report, carried out by YouGov, found that businesses will be at a clear disadvantage against larger retailers if they don’t invest in better business technology now.

Currently, the entrepreneurs who took part in the survey are more likely to spend money hiring extra staff to cope with busier periods. These staff are useful when dealing with increased customer numbers and longer queueing times.

However, it was calculated that employing just three extra staff to cope with increased queues over the festive season could cost upwards of £11,000 each year!

Upgrading your payment technology in-store could cut the cost of wages for your small business this Christmas. Switching to a contactless card machine can minimise waiting times, meaning happier customers and more relaxed employees.

Handepay customer, Andrew Mowat, found that his customers spent less time queueing after upgrading his small business technology. What’s more, his company saved over £500 each year by upgrading their payment technology:

“Contactless payments are taking over in our café! We don’t have a minimum payment threshold, so our customers can pay for even the smallest purchase using their card or smart device. It’s very fast and reduces the time people spend queueing, which makes our customers happy.”

Other companies are investing in their business technology this Christmas by upgrading the way their customers can pay online.

Setting up a website for your small business can now be done quickly and simply, will DIY tools available online. Whether you use your website simply as advertising for your shop, or set up an e-commerce store, it’s affordable for any small business.

Running an online store allows you to expand your target market. No longer will you rely on passing trade and footfall, you can sell your products to customers around the globe. What’s more, accepting payments online is more affordable than ever, thanks to Handepay’s e-commerce packages!

With prices starting from as little as £9.99 each month, your company could start selling online in time for Christmas! Speak to one of our friendly advisors today to find out more!