50% of SMEs began selling online within a year of establishing. In this report we discuss taking the online sales leap and how to build a thriving eCommerce business.
Posted by Worldpay, 27th February 2017
UK small businesses are currently undergoing rapid change due to challenging and uncertain times. However, within every challenge lies opportunity, and for small businesses the potential to grow through eCommerce is now more relevant than ever before.
Online sales in 2017 are set to grow by an impressive 10.79% to reach a record breaking £93 billion. That’s up from a figure of £84bn in 2016 and represents the largest market for online shopping in Europe. UK consumers now account for over a third (34.5%) of all eCommerce sales in Europe.
With these figures in mind, it’s perhaps no surprise that UK SMEs are wasting no time in setting themselves up to sell online. Our research conducted in 2016 with 270 UK businesses found that over a third began selling online immediately after starting their business. While 50% went digital within a year of launching. Start-ups established in the past three years were even more likely to do so: 82% having gone online within a year of forming.
Read the full report to find out more about overcoming the challenges of going online and how to achieve eCommerce success.