Electronic Business is a Viable Consideration In This Economy

Business should explore money producing options through electronic businesses (ebusiness). In a struggling economy, businesses need to do anything they can to survive. Doing business locally or nationally will bring in business, however doing business globally can give your business the boost it needs to endure tough times.

Advertising your products or services globally is very easy when you become an e-business however you first have to understand what this concept is.

Electronic Business or ecommerce is defined as any entity that sells product or services through websites, on the Internet or email. These business owners are called netpreneurs.

If a business that has been open for thirty years develops a website, it becomes an internet business.

According to the United States Census Bureau:

  • The manufacturing industry relied the most on electronic sales with an estimated $2,283 billion dollars in sales, 46% of all sales were electronic; an increase from the previous year which was 43%
  • Wholesale merchants followed with an estimated $1,422, billion dollars in sales 26.4% of all sales were electronic,
  • Retailers followed with $169 billion dollars in sales; 16.3% of all sales were electronic which is up 4.4% from the previous year

Numbers Don’t Lie!

Electronic sales gross billions of dollars every year and as the economy recovers electronic sales are expected to continue rising. The 2012 Black Friday weekend retail sales increased 6 billion dollars over the same period in 2011.

There are many cost and time saving benefits to ebusiness. Sending information regarding products and services has become instantaneous. ‘The check’s in the mail’ has been virtually eliminated as payments are made immediately. E-business also saves your business the time and expense of travel; In the past salespeople would either drive or fly to meet clients. this expense often added up to tens of thousands of dollars each year.

It is now possible to hold meetings, video conference calls and even seminars right from your home office, eliminating the need for travel. Expanding your business to an internet business does not mean that you should abandon your existing clients; it simply means that you are inviting a different group of clientele into your customer database.

DON'T GET LEFT BEHIND

Business has changed drastically since the inception of the Internet; doing business locally is great, businesses support each other; however if you want to grow your business and increase your sales, and invest your profits,electronic business could be the fastest method. There are a host of advantages to expanding to the internet.

 

Ebusiness consultant > Electronic Business