Micro companies are failing to grapple Britain’s 130bn ecommerce boom
Britain’s smallest firms are not seeing the fruits of Britain’s booming ecommerce economy, as new researchfindsthat large businesses make a significantlyhigherproportion of sales through online channels.
According to figures from the Office for National Statistics (ONS), a recent boom in online sales has’seenthe value of Britain’s ecommerce economyreach 130bn per year. Sales through websites, mobile sites and apps rose 21 per cent in December 2016 alone and are expected to continue taking a growing share of all transactions in 2018.
However, further ONS research found that micro business owners seefewer ten per cent of their sales come through online channels. Compared to 56 per cent seen at Britain’s largest firms, the data confirmedthat it is the smallest companies missing out most from the growing draw of online shopping.
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Small business support network Enterprise Nation has taken it upon itself to tackle the knowledge gaps among micro business owners, helping to provide on-the-ground assistance to entrepreneurs struggling to harness the potential of ecommerce.
Commenting on the ONS figures, Emma Jones, founder of Enterprise Nation, said the vastly different resource levels at large businesses allowed for unlimited investment in the latest ecommerce and mobile commerce functional, SEO, digital marketing and everything in between.
“Smaller firms have been slower on the uptake over the years, and seem to have less appetite for it, Jones added. They are busy simply running the business and don’t always see the benefits that digital can deliver.
“And yet the digital world is an area that they absolutely can compete with larger firms on.
As a partner for Enterprise Nation’s campaign to help micro business owners make the most out of Britain’s ecommerce boom, Jim Ohagan, B2B director for Currys PC World Business, said the numerous responsibitlies carried by entrepreneurs put them at a disadvantage.
Praseeda Nair is the editorial director of Business Advice, and its sister publication for growing businesses, Real Business. She's an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.
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