Small businesses owners must be aware of a new survey by Tenon that has revealed that companies that do not trade online are 30% more likely to fail.

Businesses have been told they must do more to provide customers with easy online access to products and services if they want to ensure long-term survival.

Despite over 33 million consumers making an online purchase last year - an increase of 21% on 2008 - half of small businesses still do not have any kind of web presence.

"Even a basic online service can make a considerable difference to businesses. Online operations are cost-efficient to run and can substantially increase a firm's revenue stream by expanding its customer base," said Carl Jackson, head of recovery at Tenon.