Online advertising spending in the UK has overtaken television advertising for the first time ever, according to data released by Internet Advertising Bureau and PricewaterhouseCoopers.

Online advertising - defined as E-mail campaigns, classified adverts, display ads and search marketing - grew 4.6% to £1.7bn between January and July.

The recession has accelerated the migration of advertising spending to digital technology from more traditional media such as print, radio and television advertising to online, according to the report.

The report highlights the need for all small firms to have a fully functioning website so they can take advantage of the new trend.