As stated by Ecommerce News Europe, two thirds of online merchants in Europe have needed extra finance between 2018-2020. The survey was conducted among 1,500 online merchants in the UK, Germany, France, Scandinavia, and the Netherlands, excluding any finance required due to the coronavirus crisis.
Moreover, among the companies that needed extra money, 23% used it to cover payroll, while 26.5% needed extra cash to cover business costs, Nordic merchants being the ones who are most likely to need cash.
Furthermore, regarding smaller ecommerce companies, speed is an important factor when it comes to getting a loan to repair equipment, restock or increasing personnel just before important holidays. However, the truth is that most merchants (24.6%) had to wait between three and four weeks for funds, while others (21.7%) had to wait one to two months, and 6% of all respondents even had to wait between five and six months, Ecommerce News Europe stated.
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