Cost putting firms off online investment
ONLY a sixth of Irish business people are willing to invest in their online business, even though consumers spend nearly €1,500 a year on the web, writes Peter Flanagan.
Figures from the Irish International Business Network (IIBN) show Irish people spend €1,392 per annum buying things online, yet only 16pc of firms are looking to invest in the web-based side of their business.
The IIBN's report shows that while Irish firms are behind their peers in the UK, we are much more willing to export our goods when we can.
The IIBN's Niall Fenton said while the research was encouraging, there were still "significant barriers" to firms looking to expand. "More needs to be done to educate and support business owners in developing their companies online if they are to remain competitive," he said.
Unsurprisingly, the big barrier is cost, with more than 40pc of companies surveyed citing it as a reason for not investing.