Views of small businesses on online trading

As per the Powering Small Business Britain report from PayPoint.net, views of small businesses on online trading are as follows:

  • Majority of the SMEs, around 57% of them feel that getting the customers to see their site is a major challenge faced in online business.
  • Lack of interaction with the customers is considered as a barrier by 31% of the SMEs.
  • 33% fear fraud attacks and their consequences.
  • 23% of them feel that online trading may prove expensive for their business.
  • Large number of small business owners are preferring traditional business to online trading as they think that they would loose contact with customers and hence unable to create a good commercial relationship (31%) and 57% of them fear that the customers will not be able to find them on the web.
  • Though online trading is considered to be the best strategy for business development in SME sector, it still have its own issues and barriers which are to be overcome in future.