Number Of Million-Pound eBay Businesses On The Rise
PRESS ASSOCIATION -- The number of million-pound businesses trading on eBay is set to increase by a quarter this year.
The company said it expected the number to rise to 159, with growth being driven in areas including fashion, motors, home and garden, and electronics.
Most of the millionaire businesses boosted their sales through exports, especially to countries including the United States, Australia, Germany, Ireland and France.
Angus McCarey, retail director for eBay UK, said a "surge" of businesses had started up on the site since the recession, adding: "Whilst the UK economy is often compared unfavourably to Germany, our figures show good reason to be optimistic.
"Online SMEs (small and medium-sized enterprises) are growing faster on eBay, with millionaire businesses developing at three times the rate compared to Germany.
"Exports are helping to drive this success as UK SMEs benefit from the international audience that selling online gives them."
The highest number of businesses turning over more than £1 million on eBay is in London, followed by Birmingham and Nottingham.