eBay’s report shows UK online businesses are optimistic about the future

eBay released its new Online Business Index that revealed 64% of online businesses are confident about the future with over 1/3 of them planning to expand their businesses in 2009. The Index contains data collected through survey responses from hundreds of small and medium-sized online retail businesses in the UK who collectively turned over an estimated £785 million in 2008 alone.

The results of the survey reported on eBay’s site show that:

• 64% of online businesses feel confident about the immediate business outlook, according to survey findings, with only 15% expressing pessimism. 
• The turnover of online businesses grew even faster in 2008 than it did a year previously, eBay data reveals – growth in the last quarter of 2008 stood at an average of 28.6%, up from 23.4% in the last quarter of 2007. 
• 78% plan to expand or diversify their businesses according to the survey, with only 22% saying they have no such plans this year. 
• More than half of those surveyed – 54% – expect rising sales, with a further 30% expecting sales to remain stable. 
• Exports by online businesses are surging, with eBay data demonstrating a 128% increase in the last year alone.

Meantime the study also revealed that online businesses are realistic when it comes to the economic downturn. ¼ of them said they changed their guidelines for the year and set lower revenue targets.

The survey also indicated that while the online businesses covered by the report obtain 56% of their revenue through eBay, 22% do it through other sites with 23% through bricks-and-mortar outlets.