Smaller companies have the opportunity to receive more business through online payments if they expand their IT understanding, according to knowthenet.org.uk.
According to the Interactive Media in Retail Group (IMRG), the value of the UK internet retail market has grown dramatically from £0.8 billion in 2000 to £5.8 billion in 2010, representing the shift from high street to ecommerce.
A recent poll conducted by knowthenet.org.uk showed that over half of small businesses revealed that they were making money online, however its site director Phil Kingsland believes this percentage should be higher.
Mr Kingsland claimed: "For many small businesses, taking the time to read around developments in web technology and growing their understanding of how they can tie this into their business could make a huge difference."
He added that large online businesses are receiving a significant proportion of their turnover through secure online shopping, a development smaller businesses should seek to take imitate.