With the advent of the internet, businesses have taken to new found markets according to a Jupiter study more than $107 billion was spent over the internet. This has opened new doors to entrepreneurs to start a business using the internet. Not to be confused with the dot.com business that busted in early 2000, but a legitimate businesses. Starting an online business like everything else in life has its positive and negatives aspects. These are some of the pros and cons of starting an online business. PROS:
The starts up costs are much lower for an online business. The biggest expensive to an online business is buying a computer most people already own a computer. According to Ask.com more than 600 million people own a computer or have access to a computer. The other expense for start up is building a web site or buying a site. Web hosting companies are making it easier to build a web site and the prices vary from free to about $200. A Gallop poll taken of business stated that 55% of small businesses web sites covered the cost of the site or were profitable.
The cost of running an online business cost much less over the long term compared to having a physical building. Most online businesses are considered home base businesses using part of the owners home as an office. Using a good accountant, the owner can still use this as a tax deduction for the business.
International markets, in 2005 the number of internet users reached more than one billion world wide reported by the firm Emarketer. With that many people using a unique product and web design niche can be formed.
With the various time zones a business can run after the initial set up on its own 24hrs a day. Being on the east coast of the United States will not effect products being sold in China. The time it takes for the consumer to order their products are instantaneous, as soon as the product is purchased it is shipped out. Also the...