People are setting up businesses such as manufacturing, constructione etc. over the centuries. These businesses are based on conventional approach in which there must be a physical presence of the buyer and the seller. But for a past decade people or companies have moved upto online business. For example companies like Google, Amazon, Ebay have turned into billion dollar companies after starting their business online.
Online and Home based Online Businesss
Advantages
Very Low Start up Costs: To start a busines online you need a very few number of employees. So the expenditure needed is very small. That is why it is a good form of business to startup.
Quick Setup: To start your busines online You must have a website. After the development of tghe website youcan start the merchandise.
More Reach: Today Internet is used by millions of users. So if you are having an online business there are more chances of your business reach because of this vast network traffic.
Lower expenditure: In an online you have to pay only to a web host monthly. Apart from that there are no expenses. Buying or selling a product online involves very low costs.
More Profit: If you have an online home based business then you did not need to give answer to anyone. You can work according to your will. Hard work and working late will directly benefit you. Moreover you will earn more than you have ever earned aas a salary employee. Thus you wil get more profit instead of increasing any others.
No commuting: You can give more time to your family. The tax policies for an online business are very kind. So you have to pay a less amount of money as a tax.
Online business always multiplies: If you are selling a product online then you can earn side money by advertising the products of other companies on your website. This is not possible in offline business.
Disadvantages
Need to expertise in Internet: The owner of an online business must have a good r knowledge of Internet concepts. That is why for people without any knowledge of Internet, Online business is difficult to start.
Security Isues: Internet security in few past years have been increased still there is a chance of leakage of information in online money transactions.