PracticePeople In PracticeChartered accountants told to embrace e-business or be left behind

Chartered accountants told to embrace e-business or be left behind

Europe is lagging behind America when it comes to e-business, according to speakers at a major English ICA IT conference yesterday.

Over three hundred delegates from across the UK heard a panel of speakers call for speed in taking up the e-commerce challenge.

Jyoti Banerjee, who Chairs a Cabinet Office sub-Committee on e-business and is the Chief Executive of TBC Research and one of the main speakers at the event said: ‘The big issue is simply this; will America?s businesses be better in the new economy than Europe’s, given the head-start they are getting in learning the tricks and trades of the new economy. Right now, the Americans are building a digital economy while Europe is watching on.’

Delegates at the Conference heard that the speed of e-commerce development is unprecedented in the UK as new ventures start up on an almost daily basis but the fact still remains that Europe is significantly behind the US in capitalising on the new business environment.

Paul Taylor former editor of the FT and now an internet entrepreneur said: ‘Whilst electronic commerce is growing rapidly, it still only accounts for a tiny proportion- less than one per cent- of total retail sales.’

He also had a warning for companies and organisations that were slow to take up the e-commerce challenge: ‘If they wait too long, they could miss the boat altogether and whither away or die. Ten years from now companies will be e-companies or they will probably not be in business’.

The other speaker, however, Dennis Keeling Chief Executive of BASDA, disagreed that Europe was lagging behind the US and listed a number of areas in e-commerce and communications where the UK and other European countries were at the forefront of IT development.

Dame Sheila becomes Tory baroness

Related Articles

Is inefficiency stealing your time and money?

Accounting Firms Is inefficiency stealing your time and money?

6m Emma Smith, Managing Editor
CIMA elects new president

Institutes CIMA elects new president

6m Emma Smith, Managing Editor
Transparent currency trade: How to achieve costs visibility

Governance Transparent currency trade: How to achieve costs visibility

6m Emma Smith, Managing Editor
Introduction to KPMG UK’s new leadership team

Accounting Firms Introduction to KPMG UK’s new leadership team

6m Emma Smith, Managing Editor
EY appoints head of UK Infrastructure Asset Intelligence practice

Accounting Firms EY appoints head of UK Infrastructure Asset Intelligence practice

8m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
MHA MacIntyre Hudson advises on management buy-out

Accounting Firms MHA MacIntyre Hudson advises on management buy-out

10m Emma Smith, Managing Editor