Member Article

Internet icons event set to inspire

A recent report by retail guru Mary Portas tells us that by 2015 the UK will be spending more than £40 billion a year over the internet and through mobile devices.

This special event has some incredibly inspiring entrepreneurs offering their tales of online success and innovative ideas.

UK Businesses spent £4.78bn in 2011 on internet advertising, with 14.4% year-on-year growth the biggest surge since 2007, according to a Internet Advertising Bureau report.

Half of the UK population is now registered on Facebook, up to 3,000 tweets are posted in a single second, and 68% of people who watch online video share the link with friends.

If you have been thinking about how new opportunities which the ever-changing internet and digital world offers your business, then this is the event for you.

Guest speakers include Si Bales, Managing Director of our very own Bdaily, Dominic Edmunds: Managing Director of SaleCycle; Lara Morgan, Company Shortcuts; and Paul Rawlings: Co-Founder and C.E.O of ScreenReach Interactive.

Bdaily asked the speakers to share a plus and a minus of running an online business. Paul Rawlings responded: “The best and worst thing about running an online business is that it is
global.

“It’s the best in the sense that you instantly have a huge market and global distribution opportunities, but it’s also the most difficult in that you have to support that global market too.”

Dominic Edmunds said: “Developing an online business is exceptionally straightforward. The route to market is swift and the appetite for change is strong.

“The challenge is finding the right idea. With the breadth and diversity of the Internet, you can be sure that someone else is on the verge of that idea.”

Lara Morgan added: “Today company valuations showing a solid revenue stream using Internet sales give a 2x greater multiple at exit – making it good enough to bother!

“On the other hand, the myriad of competitive ideas and the fast moving nature of the Internet space – on a global platform means it is very easy to think that selling online is easy.

“I think it needs significant skills and technical support in house to ensure that the offer is well represented if it is to compete.”

Si Bales also shared her thoughts on starting and running an online business. She said: “Having ran a service based business and now an online business, the possibilities of running a global business with a small, local team coupled with small overhead and limited direct costs, offers
immense opportunity.

“However, on the flip side there is a significant problem with perception and attitude towards online businesses; often resulting in less value and respect given to our sector than often deserved, especially in the world of news where we are competing with established brands across print media.”

More details of the event can be found here.

This was posted in Bdaily's Members' News section by Tom Keighley .