British firms are making the most of the internet by getting on board with social networking.

British companies are using social media to build their brand, a new report has found.

UK small and medium-sized firms (SMEs) are as likely to have a dedicated social media page as they are to accept payments online for a parcel delivery, according to a study from the Boston Consulting Group.

Commissioned by Google, the report shows that 30 per cent of SMEs have a social media page, while 29 per cent accept online payments. A fifth of firms has corporate blogs or make Twitter updates.

The study authors describe the UK as ranking first in e-commerce globally, with the country's online economy worth 7.2 per cent of GDP.

Google managing director for the UK and Ireland Matt Brittin said the internet has changed the way people do business.

"Now for the first time we can see how its adoption by British business has become a major contributor to the UK's GDP and that the internet is a central pillar of the UK's economy," he added.

The news comes after IMRG/Capgemini reported that e-retail sales surged in September to £4.8 billion, up 24 per cent on the same month in 2009.

Posted by Matt Watts 

Article Added: 03/11/2010 16:32:39