Recently rejected adopting one online business (5)

I believe the answer is:

etail

'online business' is the definition.
(electronic retail)

'recently rejected adopting one' is the wordplay.
'recently' becomes 'late' (I've seen this in other clues).
'rejected' is a reversal indicator.
'adopting' means one lot of letters goes inside another.
'one' becomes 'i' (roman numeral).
'late' written backwards gives 'etal'.
'etal' placed around 'i' is 'ETAIL'.

I've seen this clue in The Times.

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