The yearly Small Business Survey conducted by PeoplePerHour has shown that 34 percent of small businesses in London trade solely online. A third of all London companies don’t have a high street presence, with ecommerce being the only outlet for their business.
The small businesses that do have a physical presence still trade online, with over 50 percent of transactions taking place online, confirmed by 61 percent of respondents.
PeoplePerHours’ Xenios Thrasyvoulou believes that London is at the centre of the trend for ecommerce. He stated:
“As our survey results show, London’s start up and small business community is clearly leading UK ecommerce rush. Silicon Roundabout and Tech City is certainly helping fuel this trend, by providing a perfect environment for technology-based start ups to flourish.”
Thrasyvoulou also points out that the availability of Broadband enables businesses in all areas of the UK, even remote areas to reap the rewards of ecommerce. Of the 4.5 million SMEs in the UK, 1,300 took part in the study, with most of the online businesses situated in London.
The number of companies which only trade online has risen by 31 percent, with over a quarter trading exclusively online. The number of companies which mostly trade online has risen to 47 percent. Thrasyvoulou further pointed out that small businesses in the UK are maximising opportunities to market their services and products online, and at a rapid pace. More services are available online than ever before, including online accounting, banking and shopping.
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About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.