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Advantages and disadvantages of online business?

New Member

Hello Friends

* Can be very cheap start up costs (domain $8, hosting $10) when compared to other business such as owning a shop, for example a pizza takeaway has to buy ovens, ingredients etc..
* You can run your business from anywhere
* Low overheads (hosting and maybe staff costs)
* The internet is still a open market, lots of opportunities for new business models exist.

* Low barriers to entry which means that it is easy for someone to set up a website and compete with you
* Business models can easily be copied, look at youtube and how many copys of their site exist.
* Can take a bit of time to train yourself, for example if you were to start a sandwich shop you can pretty much start making sandwiches without much trouble whereas to make a website you need a bit of knowledge and skill

Thanks for reading
Have a nice day

Topic starter Posted : 16/02/2010 4:30 am
New Member

Re: Advantages and disadvantages of online business?

Here are some tips

# You get to keep the money you make. It’s a simple principle: the harder you work, the more money you can make. Your earning potential is directly proportional to your performance, so you don’t have to wait for a raise or a promotion. You work harder, and you produce more. You'll also save money on gas and food. Preparing lunch at home is more cost efficient and offers a nice break in your workday.
# Increased opportunity. With so many corporations and industries in a slump, starting your own home-based enterprise means you can create your own income-producing opportunities. Good job prospects can be scarce in some industries, and promotional opportunities within major companies are also shrinking.
# Less risk. Running a business from home takes much less startup cash than a freestanding business, or even a franchise location. And once your business is up and running, it's cheaper and easier to maintain than a separate business location.
# Tax advantages. There are a number of tax advantages to having your home and office under one roof. You can deduct a part of your home's operating and depreciation expenses on your home as business expenses. This can be a percentage of your mortgage, property taxes, insurance, utilities, and/or the expenses of household maintenance.
# More time for friends and family. This is especially important for parents of school-age children: you can see the kids off to school and on most days be home when they return. Also, if someone is sick, it's easier to leave your home's desk than one in someone else's office.

Have a nice time ahead

Posted : 24/02/2010 5:50 am