Many SMEs don’t understand internet trading risks

The internet based economy is something that has emerged, and it seems as if small and medium-sized companies in the UK are embracing this modern technology, but is in fact changing the traditional business model as well.

While many companies are taking advantage of this new way of doing business, recent information has also shown that many of them are unaware of the various risks associated in doing business online. Many businesses are struggling to come to grips with the evolving risks that are seen in doing business online, and this is proving a great challenge to the industry, as well as those responsible for protecting it.

Given the various economic pressures that are currently being seen, as well as the advancing technology that is available, the dramatic changes that are being seen in the business world are not hugely unexpected. When it comes to trading online, the UK is the leading country in the world among the G20. Research that has recently been released by the Boston Consulting Group, showed that over the past three years the Internet economy has grown 40 percent, and that it is going to grow at a rate of over 10 percent a year every year until 2016.

The benefits of moving the business onto the Internet are profound, and it is easy to see why people have been tempted by this option. Being able to operate the business without a physical presence has huge advantages when it comes to the need for office space, and also flexibility.

Operating online allows for significant savings, and various overheads that businesses have traditionally had to carry can be avoided. The statistics show that the move to online businesses is very rapid, and it is now being seen as an entirely ordinary method of operation.