More than two-thirds of finance directors do not know exactly what e-commerce is despite the explosion of internet-base companies and high-profile flotations, according to a survey by a firm of recruitment consultants.
The revelation comes from a recent survey of UK directors by Oxford-based finance and accountancy recruitment company, Stephen Beagent Associates, which showed that only 2% believed that the Internet poses a serious competitive threat.
This is despite the fact that one in 10 UK households now shop online, which is predicted to rise to 43 million households across Europe by 2003.
Stephen Beagent said: ‘Finance personnel should rise to the challenge that e-commerce poses. We are seeing an increase in demand for dynamic qualified personnel from Internet-based start-up companies who are looking to grow dramatically over the next two or three years.’