Online shopping 'has helped small businesses combat the recession'
According to a new study by PayPal, which allows businesses to accept payments from debit and credit cards, 60% of small UK companies have not been affected by the economic downturn.
Online shopping 'has helped small businesses combat the recession'”
According to a new study by PayPal, which allows businesses to accept payments from debit and credit cards, 60% of small UK companies have not been affected by the economic downturn.
PayPal's study suggests that the internet has helped to keep small enterprises afloat during the recession.
According to the data, 40% of respondents said that the introduction of an online shop increased earnings by up to 30% in the last year.
A total of 16% of small businesses in the study said they are considering moving their business purely online in order to get through the economic downturn.
Cameron McLean, PayPal's general manager for UK merchant services, said: "With consumers turning to the internet more and more to find deals, it is clear that the small businesses that are surviving and indeed growing are those that give customers what they want. In our experience, that's an easy and safe way to shop online."
External affairs director at Equifax, Neil Munroe, recently commented that credit cards are good for online payments because they offer security for losses through the banking code when used to shop online.
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