£11bn: the euro e-trade bill for British business

NEWS British businesses believe that adhering to the latest European ecommerce legislation will land them with a bill of £11bn. The Interactive Media in Retail Group (IMRG) polled 600 organisations about the ecommerce directive, which comes into force on 16 January. Those companies believe it will cost £11.43bn to implement, equivalent to almost one fifth of all internet sales last year, this morning's FT reports. The main costs will be caused by website redevelopment, internal staff overheads and legal fees, according to the survey. Te IMRG said: "The extreme costs are likely to force some organisations who are trading online to stop and deter others from starting." The ecommerce directive governs online sales of all kinds, and lays out exactly what information e-tailers must supply to consumers throughout Europe. It also offers online buyers similar levels of protection to 'real world' shoppers.