UK business yet to benefit from Internet sales

A December survey of Britain’s financial directors and financial controllers by CIMA also found 72% of respondents believed IT costs have risen substantially.

The finding comes at a time when British businesses are spending more than ever on IT.

Meanwhile 78% of respondents thought Internet companies were significantly overvalued on the stock market – but thought it would be unlikely to change over the next 6 months.

Overall, confidence in the UK economy continues to rise significantly with 74% of respondents optimistic about the next 12 months, compared to 57% in May.

This confidence is reflected in employer’s generosity over Christmas, as two thirds of businesses surveyed financed a Christmas party this year and a quarter provided a Christmas bonus. Expenditure on each of these is higher than in 1998.

Respondents in the survey represent business organisations with turnovers ranging from £10 million to over £1 billion.


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