E-business
Introduction
So you've decided you want to run an e-business. Maybe you've recently completed a relevant training course, or perhaps you've got a 'bricks and mortar' business that you're thinking of taking online. Whatever the reason, this guide will take you through the issues you need to consider and give you practical pointers on getting started.
Sector trends
The last few years have seen:
- sharp increase in household and business access and use of the Internet
- improvements in computer literacy
- the introduction of Government initiatives to encourage SMEs to trade online
- technological developments such as internet enabled mobile phones and TV Internet access
- a huge increase in the volume of information available on the Internet, some of it free and some of it charged for
- the roll-out of 'always on' broadband Internet connections
- the introduction of legislation relating specifically to Internet trading
- increasing volumes of sales being made through the Internet, particularly at Christmas time. The value of online retail sales continued to grow even during the economic downturn of the late 2000s
- a substantial increase in the amount spent on online advertising from the mid 2000s
The mid 2000s saw the growth of 'Web 2.0' - interactive websites that let their users create most or all of the content. Some of these, like Wikipedia, are non-commercial. Others, like eBay, are purely about commerce. Still others, like YouTube and Twitter, aren't directly commercial but are used more and more by businesses to promote their brand name, products and services.
New Internet ventures have learnt from the mistakes of the early dot.com failures and, because funding is much harder to find, have had to concentrate on cutting costs, improving efficiency and, above all, generating income within a reasonable time frame.
As the 24-hour society becomes a reality, more people will want to place orders for goods or services at any time of the day or night. You will have to decide whether they are likely to want what you propose to offer, at the price you propose to charge. You will also have to be sure that the cost of effectively marketing your site will not be prohibitive.
Keep up to date with industry trends by visiting the New Media Knowledge (NMK) website. NMK is a publicly funded resource for those working in digital media.
