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SMEs: “Tremendous Scope” to Increase Online Turnover

Small companies, who may be based in serviced offices, are capable of massively increasing online turnover by improving their understanding of online technology, it has been claimed.

Knowthenet.org.uk is advising small business owners to improve their knowledge of the internet so they can get the most out of their website and up their online business.

Phil Kingsland, site director for the educational and advisory portal, said: “There’s tremendous scope for small businesses to increase the proportion of their turnover that comes from the internet.”

He urged companies to read about developments in technology and see how they could tie them into the business, adding that it could “make a huge difference to online revenues.”

According to information from Interactive Media in Retail Group (IMRG) the annual value of the UK eretail market has grown from £0.8 billion to £58.8 billion in the past ten years.