“£100bn internet economy makes Britain a world leader”

Timecarpet.com - the brand new greetings card website.

I refer to today’s report featured in Management Today which highlights a new report which says the internet will generate 10% of GDP by 2015 – whilst Britain is already the world’s leading e-commerce nation.

Certainly here at Mulberry Square we have seen increasing levels of activity in the number of businesses and entrepreneurs actively looking and making the leap into a market that has in many ways tried to resist the downturn in the economy and will be riding the crest of a wave into the upturn.

Friday 22nd October saw the introduction of a new player in the online personalised greetings card market with the launch of Timecarpet.com which is an e-commerce website and brand that has positioned itself quite clearly in the retro arena with original image content from the likes of DC Thomson. It offers iconic names and characters such as The Beano, The Dandy, Dennis the Menace, Desperate Dan, The Bash Street Kids, Beryl the Peril, and Bananaman; the iconic cover images from Haynes Manuals and original data content from the Original Charts Company.

The inspiration for the project came from mother of three, Suzanne Burnip, and with the support of her fellow directors she was able to realise her dream of creating a service that offers highly desirable content for a Facebook generation that takes great pleasure from remembering the good old 60’s, 70’s, 80’s and 90’s.

Today a major player in traditional wholesale committed to the launch of a new e-commmerce website with us that will reach those who are demanding an online outlet for selected parts for manufacture. This is a major departure from their successful formula but this new client has a resolve to understand the process and ultimately generate more business.

The internet is transforming the economy: a new study by Boston Consulting Group claims that the UK’s web industry now constitutes 7.2% of GDP, or about £100bn a year; Brits are now spending more money online per capita than anyone else in the world. What’s more, the amount of cash the internet is bringing into the UK economy will make George Osborne’s eyes light up – apparently, for every £1 spent on imports, it produces £2.80 worth of exports; whereas offline, a paltry 90p worth of goods is exported for every £1 spent on imports. That’s a recovery-friendly stat.

To prove the point, another client whose project is in development at our studios between Loughborough and Leicester is responding to continued overseas demand by implementing four additional languages to his site.

According to BCG, Britain now has a higher online expenditure per capita than any other country on the planet – at least we’re a world leader at something!

And the good news is that all those cuts notwithstanding, the Coalition (quite sensibly) still seems committed to universal broadband access by 2015. So that side of the spending should continue – and if the ambitious penetration targets are met, that will facilitate more people spending more money online, thus propping up that side of things too. So it’s hard to see this £100bn figure going anywhere but up for the UK economy, which can only be good news for us all!