2018 Trends and Scope of Online Business

Online business is a modern days business concept. It’s just a business category where business is operates through online. Online Business is a new innovative way to promote, distribute and sell products or services through Internet. With the evolution of Internet, Business gets the many benefits and features from it. One of which being lower costs and greater capabilities for the distribution of information and media to a global audience. The interactive nature is the unique quality of online business which makes it different from other business types.

 

 

Drawbacks of Online Business
Like all business online business have some type of drawbacks.

* Internet Savvy
Totally Depend on Internet

* Familiarity of Internet
Required good knowledge of Internet

* Fund Transfer problem
Need of Credit card or Online a/c for fund transfer.

* Risky
High chances of Fraud in online business.

* Control by Technology
Rely on technology than human

 

Benefits of Internet Business
Here are the some benefits of Online business over the tradition business –

* Fast medium

* Reliable method

* Easy to access

* Easy to promote

* Easy to operate

* Easy to handle

* cost effective

* Use less man power

 

Cause of failure of Online Business
According to recent survey the success rate of online business is less than 5% because of below given reasons –

* Lack of patience

* Inconsistency

* Lack of technology knowledge

* Delay in action

* Lack of focus