report for Google revealed that the internet is worth £100 billion to the UK economy, more than 7% of the national income. The sector currently outperforms utilities, restaurants, transportation and construction. It is nearly as big as the financial service which makes up 9% of GDP.  The findings were conducted by the Boston Consulting Group, who are the world’s leading advisor on business strategy.

One of the report’s authors, Paul Zwillenberg, described the growth as, “astounding,” with the internet allowing UK companies to compete in international markets. The success of small and medium sized UK businesses active on the internet has also helped to increase growth. As online shopping continues to prove extremely popular, online advertising has boomed with companies continually striving to attract shoppers to their sites. In the UK, online advertising is worth around £3.5 billion a year, second only to the US.

The good times for the online sector are also expected to continue as the report estimates that the internet economy will grow 10% in the next five years. The crux of this prediction lies within broadband distribution and the government’s targets to create internet usage in every home. If these aims are fulfilled by 2015, the internet industry could contribute up to 13% of GDP per year.
 

SOURCE: Money Avenue

If your thinking of taking advantage of ecommerce growth and wish to start up a new business, why not give us at Moonlite Accounts a call.

Its easier than you think and you can still work full time in employment, so what do you have to lose?

Most new ecommerce websites cost little to none in start up, practically cutting all costs associated with most "store" type new businesses.