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Almost every business today has a website and an online store. As a matter of fact, business in general is now gravitating to the internet due to a number of advantages over traditional businesses—one of which is online credit card processing, a feature that is typically expensive and critical to any business but is cheaper and easier to do online.
A business should have a website and online store because . . .
• A business venture absolutely needs to create a professional online presence to (1) acknowledge its existence to a wide audience and (2) illustrate exactly what it is and what it provides in terms of merchandise and/or services.
• A website eliminates all distinctions. If a small business develops its website with care and insight, it can project itself as grand or as august as it wishes.
• A small staff, even one comprised of a single person, can operate the business on a regular basis, thus minimizing or eliminating salary expenses.
• Overhead expenses are far lower than in the brick-n-mortar establishment—no monthly electricity and rent fees and no heating bills. The only fees for online businesses include: business tax, telephone billing, a few possible merchant account fees (although internet banking systems facilitate online credit card processing, so there is no need for a merchant account) and a one-time payout to a professional web designer, should such a service be necessary. Today, most entrepreneurs build their own sites because hosts offer free setup and easy management templates. Various business-oriented software programs are also available for download or purchase. Some are a bit pricey, but they are one-time expenses and provide ongoing use.
• Direct ongoing communication with customers allows a business to gain feedback and ascertain customers’ needs and preferences right away. The business can also take orders and provide timely turn-around service for customer satisfaction.
• Hours are open, meaning customers can shop and buy around the clock.
• An online business attracts a global audience instead of merely a local one and therefore increases its earning potential by a greater margin.
• Internet businesses stand a good chance of stimulating various national economies, since they are a part of an international market network.
The online business has a plethora of other advantages as well, but the above eight are arguably the most important. Except for online credit card processing, which requires some research and accommodation by an online banking firm, everything else is pretty much a snap. Setting up a website is the best move for an entrepreneur to make. Why? Any business with its own website is bound to go further than a business without one.
