eBay million-pound businesses on rise

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.”