The Close Brothers Survey on the internet

Despite the growing influence of everything e-related, almost half of UK plcs have no designated board member responsible for the internet or ecommerce. The Close Brothers survey reveals that the responsibility for ecommerce is usually shifted on to finance or sales and marketing departments.

The lack of board level control for internet-related commerce is all the more surprising, as 40 percent of those surveyed say that they have changed the way they operate because of the internet. Another 24 per cent claim they use the internet for business transactions. The majority of those surveyed also expect to increase web revenue over the next two years, from the current average of 1 per cent to 12 per cent of total revenue.

Brian Condon, a director at Close Brothers, said: “It is clear that the UK industry has yet to take the internet seriously as a core business process. The majority of companies still see it as just another selling tool.”

Related reading