Dot.coms facing financial test.

Research by financial management solutions provider QSP, explains that the spate of UK disasters including proves the market expects online companies to grow up and show a sound business model.

The research, which looked at 100 dot.coms, found 94% cited financial management as essential for rapid growth – while 62% thought it was difficult to control growth in an internet environment.

A QSP spokesman said: ‘Lack of financial control and cashflow will cause the death of dot.coms, not good or bad ideas.’ When looking for financial advice, 70% of companies would turn to their accountant, the survey said.

  • About three-quarters of the UK’s millionaires live within a ten-mile radius of Notting Hill, the Independent newspaper reported today. Research by Deloitte & Touche found stars Martha Lane Fox of and QXL’s Tim Jackson were among the new economy’s big earners who lived in the area.

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