Interestingly 5 of the businesses that had a turn over of `1 million pounds or more achieved this in their first year of eBay trading. The increase is explained by the growth of export sales.

New figures published today show that the number of million pound businesses on eBay is set to rise by 25% this year. eBay expects to see 159 ‘million pound businesses’ trading on the site, with the Home and Garden, Fashion, Motors and Consumer Electronics sectors driving this growth.
This is the fourth consecutive year that there has been an increase in the number of businesses achieving the magic million in sales. 10% of the companies are expected to achieve a turnover in excess of 3 million pounds this year.

The Millionaire SMEsNearly all (98%) of this year’s millionaire businesses are boosting their sales through exports. Overseas sales from eBay’s UK SMEs accounted for £446 million of sales on the site in 2010. New figures project that 11 of this year’s millionaire businesses will see over £500,000 of revenue generated through exports, with two online SMEs projected to achieve over £1m of sales in exports alone. The top export markets for eBay SMEs are the United States, Australia, Germany, Ireland and France.
London tops the list of eBay millionaire hotpots, with the highest number of businesses turning over more than £1million. Birmingham comes in a close second, followed by Nottingham in driving economic growth in the UK. It’s not just major cities breeding the most successful online businesses. Manchester is joined by Wakefield in the cluster of Northern cities, and both share joint fourth place with coastal Essex town Southend-on-Sea.

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