Tradespace is a community platform that allows businesses to interact together and use PayPal to make transactions. It currently features 20,000 largely small business users.
The SME employs 10 million people in the U.K. market, about half of the total private workforce, says Ben Verwaayen, BT CEO. About 24 percent of the U.K. workforce works from home. About 60 pecent start-ups also are home-based.
"They don't want hassle but they want to live in the 21st century," says Verwaayen. "So they want to have the capability to communicate, to delegate, to go out in the world and find supplies, find customers and do that in a way that they concentrate on what they do best," says Verwaayen.
And that's one example of how social networkng can work for small business.
