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United Kingdom ranks first in e-commerce | Hispanic e-Business Initiative

“A report by The Boston Consulting Group (BCG) has identified for the first time the value of the Internet economy in the United Kingdom. The report, titled The Connected Kingdom: How the Internet Is Transforming the U.K. Economy, reveals that the U.K. Internet economy contributed £100 billion in 2009, representing 7.2 percent of U.K. GDP—more than construction, transport, or utilities. The report finds that this share is likely to grow by about 10 percent annually, reaching 10 percent of GDP by 2015.

The report finds that the United Kingdom is now the world’s leading country for e-commerce and that U.K. businesses are using the Internet to expand their sales overseas. The United Kingdom is now a net exporter of e-commerce goods and services, exporting £2.80 for every £1 imported. This is the opposite of the trend seen in the offline economy, which exports 90p for every £1 imported.

Small businesses growing faster, defying regional trends

As part of its research, BCG surveyed over 900 small and medium enterprises. The companies that actively use the Internet reported overall sales growth more than four times greater than that of less active companies. The results also revealed that the most active online businesses are based in the East of England, London, and Scotland—despite the fact that Scotland has one of the lowest levels of consumer online engagement in the United Kingdom.”1

Hispanic e-Business Initiative

In 2011, we are pushing for a Hispanic e-Business Initiative. The adoption of Internet business solutions by Hispanic-owned small businesses will contribute to increase their productivity, one of the central determinants of the returns on investment, which is one of the key factors explaining an economy’s growth potential.The recession has restrained the ability of small businesses to grow and compete effectively. There are a lot of small businesses that are facing considerable difficulties and problems in areas such as marketing, business development, technology adoption, access to capital, etc. Hispanic small businesses need to start building up on their existing technologies and start taking advantage of the Internet business solutions that are currently available in the market.

Through the Hispanic e-Business Initiative web site, we will share some of the most important things that you can be doing to grow your business. Choose some of the strategies you want to work on, start implementing them one step at a time and build as you go. You will discover a whole new level of business growth you never thought possible.

I want to invite you to be part of the group of business owners that will be taking their businesses to the next level via the use on Internet Business Solutions.

Cheers to your success!

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Tayde Aburto

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