Extension task 2.

 

Benefits of online business

Online businesses are becoming more and more popular. People are going to shop and review product online in different blogs and forums before purchasing it. Most of big companies have their websites where they sell or inform about their product. It’s becoming essential part of a successful business. Online business has benefits for both customer and business and it’s becoming an alternative of shop businesses.

 

It’s good to have business online because it can run with reduced costs. It is cheaper for business to operate and to establish.

Costs of renting premises are usually very high and that’s always a problem for new businesses. It would require you a lot of money to operate in selected and you are still not sure how quickly you’ll turnover or if you’ll be successful at all.

 It could also happen that your main customers live in e.g. South London and you opened your business in North London and people are not willing to travel that far so they’ll better find an alternative to your product. There’s solution for that – internet business. It don’t require you to pay for rent of premises so you’ll save a lot of money. It is also easily accessible for anyone in the world with internet connection and many people use internet every day. Online business is the only solution for people who live away from the shop, don’t have a car or have immobility issues.

 Some people just don’t like going to the shop or when they have a day-off they like staying at home so they’ll choose to use internet and buy product or services online.

 

Online business don’t require you to have as many staff as shop business. For online business you don’t need to have a receptionist, cashier, cleaner ant etc. You don’t also need to rent an office for staff as they can work from home as well as you. Working from home can help you to save money on transport costs, utilities, electricity. Accounting, financial and other procedures can be done electronically and saved online too, so even if you have people doing those procedures you’ll save money on stationary.

 

Selling price of product or services always depends on costs. Selling products online is cheaper than selling them in shops. If costs are lower, selling price can be lower as well and that’s very attractive for customers.

 

Buying online or having business online can help to save time. In most of the shops you have to wait in a queue before you can pay for you product. In online shops there are no queues so you can just pick product that you want and buy it. Online shops are open 24/7, 365 days a year so people can shop online anywhere and whenever they want, around work or family and etc. The only thing they need is to have a computer and internet connection to access it.

 Business benefits from long working hours as well. Shop business requires you to have staff that can work only 8 hours a day, 5 or 6 days a week and have to have regular holidays. When your shop is closed people can’t buy your products and your business stops running for a while. People can buy products online any time of the day, when other shops are closed after 6 pm, on bank holidays and Sundays, so online shops can possibly have more customers.