Feeds

eBay biz millionaires proliferate as high street suffers

Only infested rugs and defective lava lamps can save us

Next gen security for virtualised datacentres

The number of eBay UK millionaires could rise to over 150 this year, while high street shops battle increasing retail gloom.

The online tat bazaar said million-pound businesses were set to rise by 25 per cent in 2011, with most of them (98 per cent) boosting their sales through exports.

"New figures project that 11 of this year's millionaire businesses will see over £500,000 of revenue generated through exports, with two online SMEs projected to achieve over £1m of sales in exports alone," the site said.

The top markets buying up the goods were the US, Australia, Germany, Ireland and France.

Yesterday, the Confederation for Business Industry (CBI) said that retail sales on the high street fell at the fastest pace for a year in August, and retailers were the most negative they had been about business since February 2009, according to its survey.

"As expected, August was a tough month on the high street. Sales volumes fell at a pace not seen in over a year, as consumers have continued to see their real incomes squeezed by a combination of inflation and weak wage growth," said Judith McKenna, chair of the CBI Distributive Trades Panel and Asda COO.

High street stores have been hit hard by the reduced spending power of UK families struggling with rising food and energy prices. Household names including Thorntons, Comet and Carpetright have closed swathes of outlets, while others have fallen into administration. Just yesterday, flooring chain Floors-2-Go joined their number.

One eBay store, PF Jones, which has grown into one of the site's top businesses, also has bricks-and-mortar premises.

"I launched our eBay shop, which now employs five members of staff, to increase our customer base and profits," said owner Danny Barenga. "Exports are playing an increasingly prominent role in our business model as we continue to increase our overseas sales, in particular to Europe and Australia."

Angus McCarey, retail director for eBay UK, said small and medium British businesses had really benefit from being able to reach international customers online.

"We've seen a surge of businesses starting up on eBay since the recession, which shows the vital role online businesses play in supporting the fragile UK economy," he added. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?