Paul Hill speaks to financial services business Got Capital’s about its work within the wholesale channel
How has Got Capital helped wholesalers grow sales in the past 12 months? Especially in these difficult times, we make sure to work directly with wholesalers by providing the funding they need for specific projects, or essentials such as inventory fulfilment. Some wholesalers can still be doing very well during these tricky times and we want to propel that. For those who are getting back in the groove, we want to be there to give them that boost and make sure that this capital can in turn make us a longterm and valued partner.
What is the greatest challenge that the wholesale industry faces? In the midst of a global pandemic, wholesalers face challenges of fulfilling inventory and sourcing supplies. Besides other uncertain business trends, some can also see a drop in productivity due to a crunch in employee availability. There’s also the challenge of making sure their employees are safe and healthy at work – which is essential.
What trends and opportunities are emerging that customers can take advantage of? A quicker shift to online infrastructure gives flexibility for more convenience retailers thanks to faster shipping and a lower cost of goods. What challenges has Got Capital had to overcome in the past year? Picking up the pieces after lockdown, like almost the entire world, while connecting with our customers just to see how they’re doing and letting them know things will turn around sooner rather than later. Our growth pre-Covid couldn’t have been possible if it wasn’t for our customers, so the major challenge will be to get back to that growth and fight through economic uncertainty, together.
What is Got Capital’s greatest achievement in the past year? Our record growth, in addition to seeing our customers grow and building strong and valuable relationships with them. Most importantly, gaining their trust and seeing that return as new business.
Got Capital has funded more than 12,000 businesses
What would you like to see happen in wholesale in the next 12 months? I’d like wholesale to become more efficient by implementing technologies that will expand revenues for the industries in the next five years. This could be through improving software, logistics or solving issues that take too long to complete or too many employees for one job. An investment in the proper technologies can assign those employees to other tasks and lead the company to produce more and reduce costs.
Are you planning any activity of which wholesalers should be aware? Right now, we are not, but we will be publishing blogs and posts online about great tips to boost business for wholesalers.
What advice would you give wholesalers looking to grow sales in the category? Our business is to fund your business. But the best way to make this work for the benefit of wholesalers is to identify how much they need for any particular reason and see if their current sales will grow by getting an injection of money to fulfil that particular need. If it’s worthwhile, then Got Capital would be the perfect partner.