Clare Gilmartin, managing director of eBay in the UK, said this is what the majority of online retailers wanted.

The chancellor Alistair Darling's announcement that business rates will be cut for up to half a million firms is welcome news for the online retail industry, it has been claimed.

Clare Gilmartin, managing director of eBay in the UK, said this is what the majority of online retailers have been calling for, adding that it will deliver a timely boost to the sector.

She stated that online retailers are the driving force behind the country's economic recovery and any measures implemented which restrict them less are to be applauded.

"eBay's Online Business Index tracks the views of online firms and they consistently tell us that a cut in business rates is the number one policy change that would help them," Ms Gilmartin added.

According to online solutions firm Advansys, establishing a presence on eBay could create a lucrative revenue stream for online retailers.

The firm stated that eBay's application programming interface allows ecommerce businesses to take advantage of the website's selling tools and maximise sales revenue from them.

Posted by Rob Elliott

Article Added: 29/03/2010 16:53:22