UK businesses 'turning to eBay'

The online marketplace eBay has reported a 'surge' in the number of businesses using its services since the start of the recession.

While many high street retailers have been struggling over recent months, eBay said the volume of online SMEs was growing rapidly.

Its latest figures also suggest that the number of million-pound businesses trading on the site is likely to increase by a quarter this year.

The company said it expected the number of eBay millionaires to rise to 159, with the majority of these boosting their sales through exports to countries such as the United States, Australia, Germany, Ireland and France.

Retailers in the fashion, automotive, home and garden and electronics sectors are thought to the behind the recent drive in growth.

Angus McCarey, retail director for eBay UK, said: 'Whilst the UK economy is often compared unfavourably to Germany, our figures show good reason to be optimistic.

'Online SMEs (small and medium-sized enterprises) are growing faster on eBay, with millionaire businesses developing at three times the rate compared with Germany.

'Exports are helping to drive this success as UK SMEs benefit from the international audience that selling online gives them.'