Introduction
Over the years, #SMEs have done business the traditional way, dealing with challenges such as price, accessibility, middlemen, and long turnaround times.
Aside from procurement issues, #SMEs have faced other hurdles such as excessive loan costs, access to technology, market access, insufficient infrastructure, uneven taxation, and a lack of enough cash.
What are the traditional business-to-business (B2B) challenges for SMEs?
Many #SMEs have traditionally engaged in traditional #B2B transactions. It could be a family business for some, or it could be a safe haven for others. However, the majority of them are terrified of shifting their businesses online and are unaware of the consequences of not doing business online.
I'd like to highlight some of the challenges that #B2B #SMEs face while doing business in traditional ways:
Lengthy Procurement Process
Reduced cash flow
Accounting & Invoicing
No Budget for Scaling the Business
Lack of Understanding of the Global Market
Lack of Awareness of Marketing channels
Unable to Generate Many Leads
Poor Customer Experience
Neglecting Customer Feedback
No Strategy to Attract the Customers
Customers have a Lack of Product Information.
Unable to Provide Multiple Payment Options to the Buyers
Partial use of Automation Tools or a Lack of Awareness of the Tools
Ease of Doing Business
Lack of Awareness on Technology
Conclusion
The above are some of the pain points in the traditional B2B business; if you are a business owner and are encountering at least 50% of the aforementioned issues, it is recommended that you shift your traditional #B2B to online as soon as possible. Contact a #B2B #eCommerce professional who understands how to transition your traditional business to online.
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