Hello, on this page you will find out exactly how to start an online business and we will also give you reasons on why starting an online company in Malawi might be the best business structure of them all.
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Online business – also referred to as e-business – is any kind of business activity that happens online (over the internet).
A business owner who does any, or all, of their business using the internet, is running an online business. Running an online business can include buying and selling online, and providing an online service. A wide variety of businesses can be found online, in many different industries.
Anyone can start an online business. If you have a unique product or idea, you can find a way to sell or trade it online. It’s just like a traditional ‘bricks-and-mortar’ business, except your office or shop is online, so you have to decide how it will look and appeal to customers.
Online businesses can have different online business-fronts (how they appear on the internet). These can take many forms, such as:
- online shops or marketplaces
- social media accounts.
Are you thinking about starting an online business, or moving your existing business online?
There are a lot of things to consider before making the decision to start or move an existing business online, particularly if you’re not a computer or web guru, or haven’t ever started a business before.
Advantages and disadvantages of online business
Benefits of doing business online may include:
- cost savings in rent and staffing
- greater flexibility and efficiency in product and service delivery
- 24/7 accessibility to customers all over Malawi (or worldwide).
There can also be drawbacks in doing business online, such as:
- some technical or web knowledge may be necessary
- software and hardware expenses
- risk of online scams and fraud.