European business more fearless than US on e-business

A survey produced by PwC shows that companies in both Europe and the US do not fear competition from dotcom start-ups, but businesses in the US are taking more seriously the threat of traditional companies using e-business to compete.

Only 27% of European respondents to the survey, compared to 43% in the US, expressed great concern about competition from peers who have developed e-business strategies.

European business feels no threat from the dotcoms, but 47% still see traditional business using tradition methods as the main competition.

Bill Bound, European e-business partner at PwC, said: ‘What is also clear from the report is that whilst Europe’s largest organisations realise the long tern potential of e-business, tehy are not investing sufficiently to realise that potential.

‘European businesses have reached a point of no return – they must embrace a new business model centred around an offensive e-business strategy. Only by doing so will they realise their e-business ambitions.’

Many in the sector fear that despite growing awareness of e-business strategies companies will continue to suffer from problems such as skills shortages and a lack of capital markets recognition of e-business efforts. Despite the more developed e-business markets in the US, these problems still persist there.

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