The majority of US small-business owners selling through online marketplaces claim their income has improved

Here’s how online marketplaces help small businesses. Source: shutterstock.com

The study of eBay’s Global Marketplace Index (GMI) reveals that for small enterprises, selling through online marketplaces has increased their income.

For example, 44% of US small-business owners state that selling through online marketplaces keeps their physical stores open. 23% of respondents answer they were able to reinvest in their communities thanks to the additional income from online selling.

Meanwhile, 33% of US small businesses with annual marketplace sales bigger than $200 thousand use this income to reinvest in their community.

The study shows that 77% of US small-business owners surveyed agree the income from an online business gives them financial safety.

In addition to that, about half (48%) of US respondents have been able to get out of debt using the money they make from marketplaces.

The survey unveils that 37% of small business owners managed to rebuild their savings after an economic downturn, whereas 31% have been able to save for a child’s education. 30% of respondents say they’ve used the money to pay their mortgage.

SEE ALSO:

• How to start a company in Estonia
• Fintech and banking licensing in Lithuania: possible risks and prospects
• The basic guide to sharing economy