The article aims at presenting a Web learning portal that allows for improving employees’ competencies in implementation of the Internet related technologies in business. Such a portal is dedicated to small and medium sized enterprises (SMEs). The starting point for considerations is in suggesting initiatives that are necessary to undertake in the SME sector in the context of the knowledge based economy. Particular attention is paid to improving employees’ competencies. Then SME needs related to improving knowledge and skills required to use the Internet in business are presented. In the context of the needs in question, a model of a Web learning portal dedicated to SMEs is suggested.