Ticker EBAY

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Price US dollars
As of 10:49 23 Sep 2019
Market cap. US dollars
35,174.85 million
As of 10:49 23 Sep 2019

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'Digital natives' become eBay millionaires

Ed Snelson
Ed Snelson

Ed Snelson has turned his "side hustle" into a business with sales of more than £1m on eBay.

His personalised printing business is so successful that he could walk away from a job at aerospace company Airbus.

"It's not about the money, it's about the freedom," he said.

He is one of the generation of "digital natives" which eBay says make up the biggest proportion of new businesses generating £1m of sales on its marketplace.

Online traders rush to register for VAT

Graph showing online traders registering for VAT

Some 38,000 traders on online retail platforms like eBay and Amazon have registered with HMRC to pay VAT for the first time in the past year, reckons accountants BDO.

That's up 31% from 29,000 a year ago the firm says.

It follows HMRC's targeting of suspected VAT evaders which has led to thousands of sellers being removed from eBay and Amazon in the past year.

HMRC reported in January 2019 that it had ‘red flagged’ 4,600 businesses, mostly in China, for failing to pay VAT on online sales in the UK.

eBay to open pop-up 'concept store' in Wolverhampton

eBay is to open a "concept store" as part of a partnership with businesses in Wolverhampton, in a bid to grow trade.


The company has been working with small businesses in the city and hopes the pop-up store will offer them the chance to "showcase" their products.

Around 40 small companies will be involved in the month-long scheme in what is being described as a retail experiment.

Rob Hattrell, vice president of eBay in the UK, said: "They have achieved more than £2m in sales as of March and many have employed more staff as a direct result of the partnership.

"This pop-up store aims to take that growth, and the value of this programme, to the next level."