Companies with a turnover in excess of £1 million have increased on eBay in the last year.

The number of companies with a turnover in excess of £1 million taking advantage of eBay's parcel delivery and other services has nearly doubled over the last year.

New figures released by the ecommerce website indicate that 127 companies using its services will achieve a turnover of at least £1 million this year.

Commenting on the trend, eBay's director for small and medium-sized enterprises Jody Ford explained how small one-man bands are taking advantage of low cost parcel delivery and the website's ease of access to compete with major high street retailers.

He said: "eBay has always backed British entrepreneurs and it is tremendous to see this surge in the number of thriving online SMEs and start-ups at a time when the rest of the economy has been struggling.

"If you have a good business model and understand the demands of your customers you can be an overnight success."

Other research by the ecommerce site shows that aspirational Britons have changed their shopping habits and embraced eBay during the recession.

The online marketplace has proved a means to snap up bargains on top quality clothes suitable for events such as Ascot and other social occasions.

Posted by Laura Rathbone
 

Article Added: 23/08/2010 09:37:49