Starting your own business online or taking your existing business online is a move that small businesses should not delay.
The internet has changed the way business is done across the globe. With a potential customer base of 875 million active internet shoppers, small businesses can't afford to ignore e-business. If you don't offer potential customers the option of paying online, you can be sure your competitors will.
Despite the credit crunch, retail spend online is still increasing dramatically year-on-year - and yet many businesses still aren't harnessing the full potential of the internet.
Internet business - the key advantages
- Internet spending is predicted to account for 40% of all retail sales by 2020
- 84% of the world's internet users now shop online
- Your business can be found by customers worldwide, 24/7
- E-business is ideal for selling rare or niche products - with no geographical limitations you can target small sectors
- The internet is the ideal place for small or start-up businesses to grow, with no need to compete on high street premises or corporate offices
- Which helps to make it profitable! Of online SMEs, 90% found the internet a profitable place to trade.
- Many retailers start their online business from their own homes, reducing overhead costs faced by traditional offline businesses (rent, insurance, office equipment and so on)
- Set-up costs for an online business are around 40% lower than most SMEs believed they'd have to spend, according to 2007 surveys
So you get to keep more of the money you make.
And it's rewarding
Setting up an online business can also be immensely enjoyable and rewarding - you get to be your own boss, do something you enjoy and work from home. And since online business works 24/7 you could even run it in your spare time while you're getting going.