03-24-2006, 10:30 AM
Quote:In the U.S., ground zero of modern capitalism, it is almost an article of faith: Europeans have grown risk-averse and lack entrepreneurial zeal. But don't tell that to the thousands of folks who use eBay Inc. (EBAY ) to do an end run around decades of state-imposed regulations and old ways of thinking. One of them is German businessman Norbert Otto, who recalls the exact moment he realized selling ski gear over eBay had become far more than a hobby for him...
The Ottos' small-but-thriving operation [$1.8 million in sales] provides a window into one of Europe's fastest growing entrepreneurial sectors: the eBay store. According to a survey by ACNielsen International Research, the Ottos are among 64,000 Germans who earn at least 25% of their income from eBay...
Germany's eBay market is second only to the U.S. A decade of slow growth and stagnant wages has turned Europe's largest economy into a nation of bargain hunters, with 20 million registered eBay users. That's close to 25% of the population, a greater share than in any other country in which eBay operates. With eBay gaining momentum, its success in Germany could portend a similar boom in France, Italy, and elsewhere in Europe....
full article: http://www.businessweek.com/magazine/con...978061.htm