Britain a Nation of Wannabe (Web) Shopkeepers

July 14, 2010 - PRLog -- London, 14 July 2010: One Briton in two is a frustrated entrepreneur, claims PayPoint.net.  Just over 50 per cent of the UK’s office workers have considered starting their own business, but start-up costs and administrative demands, among other concerns, have conspired to dampen their ambitions.

These are the key findings from a survey of office workers commissioned by the leading online payments provider, which also reveals that 62 per cent of respondents would start their own business if the task were easier.

It’s not surprising that two-thirds of the nation’s office workers (64 per cent) believe running their own business would be more fulfilling than their current job, considering how much time they can waste on mundane activities. Sixteen per cent of those surveyed admitted to spending over two hours each week waiting for their computer to start up or close down. Just under half (44 per cent) spend up to an hour scheduling meetings, let alone attending them. Office workers also waste a sizeable proportion of their working week waiting by the printer and photocopying documents, with 21 per cent and 28 per cent spending over an hour a week on these tasks respectively.

Online businesses are the most popular avenue for Britain’s would-be entrepreneurs, voiced by one-third of respondents (34 per cent) as the kind of business they’d like to own.  Service and consultancy was the second most popular option (28 per cent) with more traditional ‘bricks and mortar’ retail (7 per cent) and construction (2 per cent) the least popular choices.

The research, based on a survey of over 1,100 office workers across the UK, marks the launch of PayPoint.net Fast Track – a service which provides new online businesses with all the capabilities they need to start trading online in just 24 hours. The new service provides the industry’s most secure online payment gateway, flexible online fraud management technology, web shop and an Internet Merchant Account, which typically takes several weeks to secure. The new service enables new online businesses to start trading for less than £100, with new account set-up fees reduced to £75 and monthly fees to just £15 per until 13th August.  

Peter Ward, managing director of WAYN (Where Are You Now?) says: “It had always been my dream to set up my own business and thanks to the help of PayPoint.net, we were able to offer premium subscription services for our travel social network, which I launched with a couple of friends a few years ago. Now WAYN is the world’s largest travel and lifestyle focused community, with over 15.5 million users and over 120,000 VIP subscribers. Thanks to PayPoint.net, companies like ours are able to start trading in less time than it takes to get a phone line, which can help many small and fast growing businesses to recover their initial investment very quickly, which we did.”

Michael Norton, managing director of PayPoint.net, comments: “Considering the tough economic climate of the past two years, it’s fantastic to see such a strong sense of entrepreneurialism in the UK.  What is more sobering is the fact that many would-be entrepreneurs view online payments as an afterthought.  We speak to many people who have to wait for weeks on end before they can start trading, while their Internet Merchant Account is arranged.  Such a delay can be disastrous for businesses that may have made substantial investments in their websites.  Our 24-hour service enables us to throw these businesses a life-line – as well as giving a fast start to businesses working to a tight schedule.

“PayPoint.net Fast Track takes the pain out of payments for online businesses, so their owners can focus on pursuing their goals.”


About the Survey

The survey was conducted by Opinion Matters, between 02/07/2010 and 06/07/2010, with a sample size of 1103 office workers in the UK.


About PayPoint.net Fast Track

PayPoint.net Fast Track can provide online payment facilities, including an Internet Merchant Account and payment gateway, in a minimum of 24 hours, provided key documentation is received in advance.  Documents required include business and banking particulars, a business plan, notarised ID documents (such as a passport) and customer service plans.  A full list of what is needed can be downloaded from http://www.paypoint.net/tradein24.  Terms and conditions apply.


Pricing details:


Normal charge
Discounted charge (until 13/08/10)

Account set-up
£125.00
£75.00

Monthly fee
£30.00
£15.00

* Transaction fees may vary depending on transaction volume


About PayPoint.net

PayPoint.net is an internet payment service provider that helps businesses take advantage of the opportunities, and manage the risks, of trading online.  Drawing on its 12-year heritage in online payments, it provides a highly secure payment platform and FraudGuard, one of the most advanced online fraud management systems on the market.  FraudGuard has been found to reduce fraudulent transactions on websites by up to 70 per cent.  

Its customers span high-profile retail brands such as, UNIQLO,,Firebox.com and Urban Industry, small business and start-ups, for which it can arrange all the facilities needed to trade online in just 24 hours.

PayPoint.net is certified to the highest level of the Payment Card Industry Data Security Standard (PCI DSS), offering all its customers compliance by default.  Additionally, it has links with all UK acquiring banks, accepts all major payment cards and online payment schemes, and can process payments made online in cash, at more than 22,000 local shops equipped with PayPoint terminals throughout the UK.  

PayPoint.net is part of the PayPoint group.


Contacts

Karla Winch / Katie Buckett
Brands2Life
020 7592 1200
paypoint@brands2life.com

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PayPoint.net is an internet payment service provider that helps businesses take advantage of the opportunities, and manage the risks, of trading online. Drawing on its 12-year heritage in online payments, it provides a highly secure payment platform and FraudGuard, one of the most advanced online fraud management systems on the market. FraudGuard has been found to reduce fraudulent transactions on websites by up to 70 per cent.



Its customers span high-profile retail brands such as, UNIQLO,,Firebox.com and Urban Industry, small business and start-ups, for which it can arrange all the facilities needed to trade online in just 24 hours. It's website can be found here: www.paypoint.net