Published by Zeb BhamSmall businesses may be able to increase their turnover - perhaps to customers around the world - by making the best use of new technology, an expert has claimed.Phil Kingsland, site director at knowthenet.org.uk, suggested small businesses could make better use of the internet as a sales channel."There's tremendous scope for small businesses to increase the proportion of their turnover that comes from the internet," he said.Citing research from his own organisation, Mr Kingsland highlighted that approximately 2.4 per cent of small business turnover comes from online sources, whereas in larger organisations, the figure is 18.7 per cent.A key route to success in expanding an online market is through learning more about the latest developments in web technology and gaining an insight into how they can best be utilised by individual businesses, Mr Kingsland said.His comments follow research from the Interactive Media in Retail Group which revealed that the UK's online retail market grew from £0.8 billion in 2000 to £58.8 billion in 2010.For more information on international payments, visit our Smart FX site