Steve needs to realize competition will always be there, even if there is a patent filed. Nothing really can be protected, if the idea is really good.
The "best" that could happen is to be the first to patent the idea, and then discover a bunch of others doing the same, and then having to sue all of them in court, spending a fortune in the process where only the lawyers make all the money, and you may ultimately win the case. And before you know it, many years have gone wasted trying to protect the patent.

Steve needs to realize winning the competition means he needs to continue improving the platform, continue to close deals around the world, and continue to provide great services to the customers (i.e. the business owners that sell their invoices and the investors that buy the invoices).

Ultimately the one that will really beat the competition is the brand and the impression it conveys (not patent).

Steve should go full force and destroy the competition by 1) having a commercially-workable invoice trading platform, 2) close deals throughout the world (but starting in the UK first to make his mark), and 3) provide great service support to all the users of the invoice trading platform.
His only challenges is to do a very good job in all the 3 things above.
If he succeed, then competition would be nothing.
Otherwise, nothing matters.

And those employed (or appointed) to be part of the team should be 100% dedicated to the team, not part-time.
But then, those who choose to be part-time doesn't appear to be cut out for great things.