In 2010, business to business on-line trade contributed £60bn to the UK economy. E-commerce has great potential to help small businesses innovate and grow, something which can help economic growth. Research also shows that small businesses that trade on-line have been more likely to weather the economic storm.
Enable recognise that a business trading on line has a greater chance of success and that why we have a business loan product specifically for companies looking to purchase or develop their websites, e-commerce shops or implement an internet marketing campaign.
However, the FSB believes that online trading could be much higher if the number of barriers were removed.
A key barrier is lack of access to high speed broadband. In a new report, ‘Small businesses and online trading’, the FSB has raised concerns that lack of broadband coverage and slow broadband speeds are putting off small firms from trading online – and so expanding their business. For nine per cent of small firms, current generation broadband – up to 24Mbps – is not available across any of their sites and 22 per cent said it is not available on at least one. Around a quarter of small businesses only have access to speeds of up to 2Mbps – acting as a major barrier to trading online. Read the full FSB press release here