SMEs Failing Online

7 October 2006

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The internet is the world's fastest growing industry, creating a global market. Despite this, only 40 per cent of UK businesses represent themselves online.

Lawrence Jones, managing director of UKFast believes SMEs are throwing away great opportunities to build their profile and revenue by not optimising their online presence.

The UK's largest businesses lead the way and enjoy the lion's share of internet income. Making up just two per cent of Britain's online businesses, they account for 75 per cent of the internet's UK revenue - sharing more than £53.4bn a year.

"Small and medium sized businesses are missing out on the net's full potential," said Jones. "The figures are staggering. Fewer than eight per cent of all SMEs are profiting directly from the web."

"It makes for a very interesting marketplace," he added. "Competition amongst the internet's entrepreneurs will be fierce and only those with solid online infrastructures will remain at the forefront."

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