We all know that we are in less-than-stellar economic times. While there’s no official “recession,” every person you know is probably watching his daily spending and cutting back wherever possible. While there is no official “recession,” every person you know is probably watching his daily spending and reducing where possible.
Since money is tight, is it really a good time to start an online business? Since money is scarce, is it really a good time to start a business online? You bet. You bet.
To begin with, internet startups have low overhead and startup costs – as low as $ 3,000, thanks in part to inexpensive, yet robust e-commerce software and services on the market. To begin with, Internet start-ups have low overhead and startup costs – as low as $ 3,000, thanks in part to inexpensive, yet robust e-commerce software and services market. What’s more, the business can be set up in a home office and attended to at nights and on weekends, Allowing new entrepreneurs to keep their day jobs. Moreover, the business can be installed in a home office and went for nights and weekends, allowing new entrepreneurs to keep their day jobs. In addition, many budding entrepreneurs can set up their online businesses in less than one week. In addition, many budding entrepreneurs can set up their online business in less than a week.
Another reason a website that could be lucrative even in a Down economy is that online shopping is growing. In the first quarter of 2008, revenues generated by online-based businesses (and the online aspects of traditional retail businesses) were $ 32.4 billion, according to the U.S. Census Bureau. In the first quarter of 2008, revenues generated by online-based businesses (and traditional aspects of business online retail) were 32.4 billion U.S. dollars, according to the Office of the U.S. Census. That tally is up 13.4 percent from results for the third quater of 2007. That number is 13.4 percent of the results for the third quarter of 2007.
In general, e-commerce is the bright spot today in the retail world. In general, electronic commerce is the bright spot in the retail world today.
“Online retail continues to grow at a pretty nice clip,” says Jeffrey Grau, senior retail e-commerce analyst with eMarketer. “Retail Online continues to grow at a fairly nice pace,” says Jeffrey Grau, retail e-commerce analyst with eMarketer higher. “If you look at total retail sales, annual growth is in the low single digits. However, the online channel has been growing in recent years in the low to mid-20 percentile.” “If you look at total retail sales, annual growth is in low single digits. However, the online channel has been growing in recent years in the low to mid-20 percentile.
While Grau warns that the economic downturn is slowing e-commerce sales, online sales are still growing at triple the rate of store sales. While Grau warns that the downturn is slowing e-commerce sales, online sales are growing at triple the rate of store sales.
“It’s still a very desirable marketplace,” he says. “It remains a very desirable market,” he says.
And more and more online shoppers are turning to the web instead of paying for gas to go to the mall. And more and more online shoppers are turning to the web instead of paying for gas to go to the mall.
A new poll conducted by RetailMeNot.com, an online coupon website, found that nearly nine out of 10 American consumers have changed their shopping habits as a Result of high gas prices. A new poll conducted by RetailMeNot.com a promotional website online, found that nearly nine in 10 consumers have changed their buying habits as a result of high gas prices.
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Tags: Business, Business on internet, Business online, Starting new business