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New UK Lockdown start-up eBay businesses up 335% in June
June saw the biggest year-on-year spike in new eBay UK businesses, up 335%, as the trend of setting up a lockdown start-up became more mainstream.
Interesting to note is that the City of London saw the biggest influx of eBay sellers. Typically the location for big business and offices with thousands of staff, small businesses in the City are struggling more than many other areas of the country as home working continues and is likely to be the norm at least through to next year. Without the office workers there are no customers for the many small businesses that rely on them for footfall. Seven out of ten of the locations for the most eBay businesses created are in London.
The number of new start-ups joining eBay UK has grown consistently each month during lockdown, with the number of new businesses joining the platform in June almost 40% greater than in April when the impact of lockdown was first felt.
Despite the recent easing of lockdown in the UK, the data highlights a new trend – “the rise of the lockdown start-up” – with many Brits using the increase in downtime and being furloughed from their usual employment to create new business ventures or to turn their side hustles into full-time jobs.
Over the course of lockdown, eBay UK experienced a 256% rise in the number of new eBay UK businesses compared with the same period last year and this represents 10s of thousands launching every month.
The Lockdown Start-up
“The boom in new businesses joining eBay in lockdown proves that when faced with a crisis, Brits see opportunity. The UK is a nation of entrepreneurs and this data shows that a global pandemic hasn’t dampened that spirit, but instead has spawned the rise of ‘the lockdown start-up’. I’m thrilled to see so many small businesses, start-ups and even side-hustlers take to eBay to sell, grow and even export internationally during this challenging time.”
– Rob Hattrell, VP, eBay UK
“In March my university life was put on pause because of Coronavirus. I had so much more free time, which helped me focus on developing my business idea. Three months ago, in the height of the pandemic, I took the plunge and opened an eBay business. That decision has massively paid off! I sell components for 3D printers and every month my sales are growing between 40-50%, and there’s no sign of it slowing down any time soon. For a young entrepreneur like me, eBay has been the perfect place to start my business, allowing me to reach millions of customers in such a short space of time without needing to invest in a website or store. When I do go back to Uni in September, I plan to keep selling on eBay to fund my schooling and make this my full-time job after graduation.”
– Henry Cawley, 23 from Norfolk who started his business UK Components on eBay in lockdown, while his university degree was on hold
“I’m a builder of over 30 years, but in lockdown I started up an eBay business to sell my new invention – a special tape measure aid – inspired by my day to day job. I set up Matey Measure on eBay and suddenly my products were flying off the shelves with customers leaving really positive reviews. I used eBay as the primary place to sell my product to make it easy and simple for customers to purchase wherever they are. I’m now getting interest from international buyers and have sold Matey Measure in countries like USA, Japan, New Zealand and Australia! It’s been so successful that I’m considering giving up my job to focus my efforts solely on my business and inventions.”
-Steve Capon, from Brighton who launched his product Matey Measure on eBay during lockdown
4th Annual eBay for Business Awards
If you are a lockdown start-up, make sure you check out the 4th Annual eBay for Business Awards which are now open for entries. The competition aims to find and celebrate the most successful, innovative, and inspiring entrepreneurs from the platform’s 300,000-strong community of small businesses. 11 winners will be selected, and entrants will have the opportunity to win up to £20,000.
eBay UK experienced a 256% you will get that when you offer them zero fees bait deal it is when those FEES start to kick-in…even paypal are offering zero fees up to £40k on new business account bait deal.
Millions being put out of work you will naturally get more people using marketplaces to generate more income it is how I started back in 2008. Today you have a lot more choice with sales avenues open to you however.
Our first managed payments are coming through and when you add it all up it is becoming more expensive than using Paypal….if varies with stealth FEES but we are looking at over 15% I worked it out at 11% and thought it would be a tiny bit cheaper but alas it is eBay more for less…