The Advantages Of Web Based Businesses For Entrepreneurs

540 words - 2 pages

Starting and maintaining a successful business is the dream of all entrepreneurs. Today’s advancements in technology have created new opportunities for business owners to get closer to this dream. The Web has been the most effective tool in creating new opportunities for business owners. An entrepreneur should be more successful by starting, marketing, and operating a Web-based business.
The first reason an entrepreneur should be more successful starting a Web-based business is because it’s simple and inexpensive to set up. Once an entrepreneur has the proper licensing and permits and creates a website, Business is can began operating. A Web-based business decreases start-up cost by not having to acquire a physical location. Obtaining financing to purchase or develop a physical location can be difficult and expensive. Banks are highly sensitive to risk and are often reluctant to lend money to businesses. The greater the risk a lender takes in making a loan, the higher the rate of interest a lender requires (McHugh, J., McHugh, S., & Nickel, 2008).
Another reason an entrepreneur should be more successful with a Web-based business is the ability to market products to international and global markets. The Web is the easiest and most efficient way to advertise products to vast and diverse markets at once. “Despite soaring unemployment, for instance, Internet companies catering to consumers thrived on Wall Street. Much of the success is due to increasing acceptance of online advertising by Chinese companies” (Krantz, 2010, p.03b). The Internet has changed the way business is conducted on a global scale. “Increased Internet usage enables companies worldwide to bypass normal distribution channels to reach a larger market that is one...

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