A new low-cost internet service that will enable Birmingham residents to buy and sell unlimited goods and services for an annual flat-fee of just £5 has been launched.

The People's Web allows individuals and companies to buy, sell and swap products through a one-stop online marketplace.

Its founders say that unlike other online selling services, account holders pay no commission or transaction charges, and can search, buy and sell on a regional basis.

Birmingham residents and business people can therefore choose to shop online in their immediate area or use the service to access the entire UK.

Searching the People's Web for products is absolutely free, while account holders can place details about sale items and wanted ads once an annual £5 membership is purchased.

Companies of any size can upload their entire product range to the site, with small businesses and trades people paying just £25.

Tim Hayes, chairman of The People's Web, said: "The People's Web was created in order to put the power of the web back into the hands of the people.

"We're a matchmaker, not a middleman - we don't profit from any sales made through our site, we simply provide a website where buyers and sellers can meet and arrange their own transactions."

He added: "Consumers are dismayed by the hidden fees associated with using online shopping and swapping services, and the prospect of online fraud, while small businesses are losing the online battle because of the cost of building and maintaining their websites."

In the run up to its consumer launch, businesses uploaded 50,000 products to the People's Web during a trial period.