SMEs could forgo £77bn in lost trading this year because their websites are not optimised for smartphones, according to new research.

Mobile commerce is one of the fastest growing branches of internet retailing and major chains are scrambling to take advantage.

But research involving 900 smaller businesses by web business hibu shows that only 10 per cent have optimised their devices for mobile devices.

It also showed that 45 per cent of respondents had no web offering at all, while 45 per cent of businesses with a website had not made it mobile-friendly.

“We’ve shown that the opportunity for SMEs and mobile is huge and we hope it will spur many into action. A simple change to their digital presence could unlock significant new revenue,” said Richard Hanscott, chief executive officer of hibu in the UK.