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Businesses 'missing out by not getting online'
Tuesday 28th July 2009, by Daniel King
Businesses could be missing out on the profits that can be generated by having an online presence, a survey has suggested - which could prompt many to investigate installing a new broadband connection.
The report, published by web-based transaction specialists at PayPal, revealed smaller firms in the UK could be letting a total of £235 billion per year slip through their fingers by not having a website in place.
It was revealed more than half of such businesses in Britain do not have an online shop window for their products and services, but these groups were simply contributing to the loss of turnover by not doing anything about it.
The study, conducted in collaboration with experts at Mr Site, also showed companies could expect an average earnings boost of around 37 per cent by having a web presence.
It suggested small businesses that have invested in such a facility had reported turnover increases of £52,000 on average and with more people looking to take advantage of broadband products this was only likely to grow - in particular when considering recent government pledges to get faster access to more homes by 2012.
Cameron McLean, PayPal's general manager for UK merchant services, commented it was accepted that internet facilities were now being engaged with more than ever by the public and it was up to smaller firms to recognise this for themselves - or risk losing out in the long-term.
"Online sales are bucking the high-street street trend and businesses should establish their online presence before they are left behind. Not having a website is like leaving your shop-front boarded up or refusing to tell customers anything about the services you provide,"
The government outlined plans to boost UK internet access as part of its Digital Britain report.
Categories: Broadband, Business Broadband
