It is time to move into the 21st Century... Electronic business is no longer the preserve of large multinationals and offers huge benefits for all sizes of company.

Technological improvements and intense competition have driven down prices and increased the availability of high quality, efficient products and services.

So why doesn't everyone use the internet to do business?

Frankly, confusion and mistrust of technology is preventing many UK companies, particularly SMEs, from making best use of e-business.

This is a great shame, as survey after survey produces staggering growth figures for e-business. For example, IDC Research estimates global e-commerce revenues will exceed US$1 trillion by 2003.

New business development expert, Mike Herd, executive director of The Sussex Innovation Centre, summed up the situation: "As a business you have three options: One, you can do nothing and hope the internet will go away.

"Two, you can wait and see what happens and respond tactically to your competitors' initiatives.

"Or three, you can plan to benefit from the change and so achieve competitive advantage by embracing the new e-conomy.

"I would encourage UK plc to act now, and ensure it is not left behind the US and the rest of Europe."

Slow internet take up is partly due to misunderstanding. Despite popular perception, the internet, and e-business, is not just about research and selling products online. The internet provides an array of solutions which can greatly improve the running of your business.

To make the most of the internet, one of the first priorities should be development of a website.

Web pages should be logical, easy to navigate and visually attractive to the user. The internet can be used to open up areas of your business which are most likely to be of interest to your customers. Secure software will restrict access to confidential areas.

By making company information obtainable, and supplying market research and industry news via the web, you can position your company as an expert in its field. You show potential customers you are knowledgeable about what is happening in your industry and that you understand what they want.

The internet also offers the opportunity to keep in regular communication with customers through e-mail and online newsletters, customised to meet their specific requirements. News services and e-mailed bulletins, giving information about new product or service offers, can be distributed at the touch of a button.

Giving suppliers and distributors access to a secure part of the network (extranet), can enable them to keep up to date with company news that may affect them.

You decide how much they are allowed to view to ensure that you are not sharing confidential information with outsiders.

Online procurement makes finding new suppliers or distributors, and enabling them to find you, easy. You can also offer new opportunities to your existing suppliers by posting details on your web pages.

With a little imagination, e-business can provide new and innovative ways to assist with the internal running of your company. Financial accounting can be aided by making ordering, billing, payment options and handling available online to approved users.

Online signatures will soon be legally binding and safeguards are currently being investigated to minimise fraud. Keeping staff, partners and shareholders informed with regular news briefings and letters can all be done via the internet and networks based on internet technology.

The internet is having a huge impact across the globe. Market liberalisation and supplier competition is increasing the availability of affordable and effective e-business solutions in the UK.

It is now up to UK businesses, particularly SMEs, to jump on the bandwagon to ensure they do not get left behind.

In short, the internet should not be seen as a threat - grasp the opportunity now and join the e-business revolution.