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E-commerce – it’s a small world after all…

With global retail e-commerce sales expected to reach $4.5 trillion by 2021* the massive opportunities for global e-commerce are too big to ignore.  The internet has made it easier than ever for small and medium sized businesses to join the global marketplace and reach customers all over the world.

Even as a beginner in e-commerce, the tools and resources are all set up for you. The statistics support the view that retail e-commerce is a good choice for entrepreneurs that are looking to start a new company, or those that are keen to diversify and expand their existing businesses.

E-commerce may be a fast growing industry, but a lot of traditional accountants have yet to catch up. Working with a specialist e-commerce accountant will ensure you receive the right financial advice and guidance on growing your online business.

Here at Mitchell Charlesworth, we understand that online marketplace traders may need help or assistance to launch their venture in the UK and EU. We can help you to set up a UK company and a UK bank account as well as provide you with product liability insurances. We can also help you to understand and comply with all the complex international regulations if you want to sell in EU countries and the US.

So far, we have assisted more than 200 online marketplace traders to set up UK companies, mainly on the Amazon platform.

Where ever you live in the UK, or even if you live on the other side of the world, this is not a barrier to running a successful online business. We advise UK clients who want to sell online in the UK, Europe and the US. We also have clients across the globe in the US, Australia and New Zealand who want to sell online in the UK and Europe.

We are currently working with a US businessman who runs a successful e-commerce business selling stationery products on the Amazon platform. We have advised him on how to set up his UK company, register for UK VAT and ensured he is compliant with all legalities and taxes in the UK. We have also advised on EU VAT and helped him register in other European countries.

E-commerce can make a great lifestyle business. For budding entrepreneurs it is one of the fastest routes to starting your own business.  It is also ideal for those who need more flexible working arrangements or want the freedom of being able to travel and experience other cultures but still need to fund their adventures! We work with a semi-retired couple who have set up an e-commerce business and are now travelling the globe as their business allows them to work from anywhere in the world.

E-commerce is a rapidly changing environment with new technologies, new ways to take payments and an increasingly international customer base. We provide a complete e-commerce accounting package which includes all the accounting services, tools, and technology support you need to keep your accounting well-maintained and running smoothly.

As our clients are scattered across the UK and the rest of the world, we use the latest technology to give advice and support remotely. There are numerous software packages and applications we use to keep in touch with our clients, including Skype, GoToMeeting, Dropbox, online content, videos, cloud-based accounting software like Xero, remote access, bank feeds and corporate finance products.

During our time dealing with the e-commerce community we have also various contacts and connections in obtaining finance for traders, online training for traders, freight forwarders and translation services whom we could connect you to.

*Source: Statista

If you would like more information on how we can support your e-commerce business you can submit your enquiry here.

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Strength in Numbers Spring 2018