Small business insurance customers could collectively be missing out on as much as £235 billion each year by not having a website.
Research by Mr Site and PayPal found that more than half of small firms in the UK do not have a website, despite the fact that those with an online presence can benefit from a 37 per cent increase in turnover.
The study found that 61 per cent of small business insurance holders selling goods and 46 per cent of service-providing companies had no website in place, with potential set-up costs suggested as a reason for this.
Cameron McLean, PayPal's general manager for UK merchant services, says small business insurance customers should move quickly or risk missing out on a valuable revenue source.
"We know that consumers are looking to the internet more and more in the current climate, to search out bargains and fully research which business they are going to use online sales are bucking the high-street street trend and businesses should establish their online presence before they are left behind," he states.
In other news, financial support from banks to small business insurance holders is improving, according to David Dooks, statistics director at the British Banking Association.
