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Lack of a website is costing small companies £20,000 a year, eBay says

One in five small firms is missing out on valuable business because they do not have a website or use social media, a report says.

A study by eBay found that the lack of a digital presence was costing companies an average of £20,000 in increased revenue a year.

Murray Lambell, of eBay, said: "Our sellers tell us that there are clear benefits to going online, with access to our marketplace enabling a British small business to export to markets as far afield as Australia or Canada with ease.

"If we can help the final fifth of small businesses without digital infrastructure close that gap, our research shows that the UK will see clear benefits in terms of jobs and growth, and small businesses themselves will see an average growth of £20,000 in revenue."

Minister of State for Digital and Culture Matt Hancock said: "Digital knowhow can help firms save money, increase profits and improve productivity, yet too many firms still do not use websites, trading platforms or social media channels."

The report was based on a survey of 500 small businesses.

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