According to a new survey from The Open University Business School there are few signs that the recession is lifting for Britain’s small firms. Over half of the firms (52%) surveyed have seen their sales fall, and the economic climate is still their top problem, as it has been for all this year. On the other hand the future is looking slightly brighter, with one third of respondents expecting to increase sales over the next three months.
One sales channel that many small businesses overlook is the internet. In fact, according to research from PayPal and Mr. Site, more than half of small businesses in the UK do not have an online presence at all. This could be costing them valuable sales, especially as many potential customers will use the Internet to research their options.
UK shoppers spent £3.8bn online in August 2009, and in 2008 online retail sales in the UK were worth £43.8bn (IMRG). This is a huge e-commerce pie that small businesses cannot afford to miss out on.
Small business owners should try to get as much guidance and advice as possible. Looking at examples of similar businesses in other parts of the world can provide lots of inspiration. Some will even be happy to offer their own top tips (as long as they’re not competitors!).
There is lots of helpful information and guides available for free online, for example at Business Link or ByteStart. If you’re a small business with an online presence such as a website or an e-store, please share your comments and advice below.
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