PracticePeople In PracticeGrowing businesses are failing to keep up with the internet revolution

Growing businesses are failing to keep up with the internet revolution

Three-quarters of Britain's small companies have yet to start trading online and are struggling to get to grips with the internet, according to new research by BDO Stoy Hayward.

The research, a survey of 200 senior executives in UK growth companies, concludes that there is serious concern about the way in which smaller companies are embracing modern technology, as one-third of respondents said that they have no intention of trading on or through the Internet in the future.

Stoys e-business manager Jonathan Corkey said: ‘It is extraordinary that 75% of companies believe that their business is not suited to trade over the net.’By 2003, it is estimated that up to a quarter of all business processes will be made using the internet.

Other results of the survey shows that among companies already using the Internet, 79% said that this type of trading accounted for ‘very little’ of their business, while a third of firms working online said that using the Internet had increased their business a little.

Just 6% said that using the internet had increased their business significantly while 61% said that it had made no difference.

E-Business Race – Don’t get left behind

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