Small businesses without websites missing out on revenue

A specialist group dealing with online financial transactions has recently claimed that many small businesses that do not have websites are missing out on a lot of revenue.

Since home broadband became a mainstream service in UK households many consumers have looked for and purchased a variety of goods and service online, making transactions from the comfort of their own homes and enjoying the convenience and ease of being able to browse and shop for products and services via the Internet.

However, it seems that many small businesses are failing to get in on the action by missing out on significant profits simply because they have failed to set up a website or any form of online presence, which is vital in this day and age, when an increasing number of people have come to rely on the internet to make all sorts of purchases.

The report was released by online financial transaction specialist PayPal, which claimed that around £235 billion a year was being lost by small businesses as a result of their failure to utilise the popularity of broadband and the Internet by having a website or some form of online presence. Officials from the firm claimed that on average smaller businesses could see an income boost of around thirty seven percent simply by having a website or online presence.

An official from PayPal stated: “Online sales are bucking the high-street street trend and businesses should establish their online presence before they are left behind. Not having a website is like leaving your shop-front boarded up or refusing to tell customers anything about the services you provide.” He added that if smaller firms did not take responsibility for getting online they could be missing out on great opportunities to boost income and profits.