The Department of Trade and Industry is backing a 'virtual business park' for electronic commerce. The UKTrade site, which opens next month, could transform the way companies choose suppliers or make orders and payments.
It will consist of a directory of 12,500 businesses, intended to rise to 250,000 within five years. The DTI is giving #450,000 to set up the site and trade associations will provide directory information. ICL beat 12 other companies to the contract to develop the site.
Derek Sayers, director of multimedia solutions at ICL, said the site would enable UK companies 'to carry out business online and gain a real competitive advantage'.
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