What You Need To Consider E-commerce Purchasing And Selling Online Business

E-commerce refers to the process of buying or selling business products or services over the Internet

. Online shopping is becoming increasingly popular because of speed and ease of use for customers. E-business activities such as selling online business can be directed at consumers or other businesses. Business to Consumer (B2C) involves the online sales of goods, services and provision of information directly to consumers. Business to Business (B2B) refers to the online exchange of products, services, or information between businesses.

E Commerce for Small Businesses: - Selling online can help your business reach new markets and increase your sales and revenue gains. If you are interested in selling to other businesses, you can use the Internet to find sales leads, announce calls for tender, and to offer products for sale (either through your own website or through an e-marketplace site). Searching for products and services online can save you time and money by allowing you to find the best prices without having to do all the legwork. You can use the Internet to find new suppliers, post buying requests or search for products and services. The benefits of effective B2B e-commerce include lower costs associated with selecting suppliers, establishing prices, ordering, and finalizing transactions. Online trading networks can also be used to support efficient information exchange between buyers and sellers.

This article is intended for informational purposes only and does not constitute legal, technical, business or other advice and should not be relied on as such. Please consult a lawyer or other professional advisor if you have any questions related to the topics discussed in the article. The Ontario Government does not endorse any commercial product, process or service referenced in this article, or its producer or provider. The Ontario Government also does not make any express or implied warranties, or assumes any legal liability for the accuracy, completeness, timeliness or usefulness of any information contained in this booklet, including web-links to other servers.

Since 2000 the value of online sales has increased from $5.7 billion to $49.9 billion (2006) in Canada. The vast majority of online sales still occur between firms as part of business-to-business (B2B) sales, as opposed to sales from a firm to an individual consumer. Sales from business to business amounted to $31.4 billion in 2006, which represented about 68% of total e-commerce by private firms. Eight percent (8%) of Canadian businesses sell online but almost twice as many retail firms do so (2006). A 2004 survey shows that SMEs across all sectors and size categories reported a substantial increase in revenue as a consequence of e-business adoption (e-business adoption includes internal operations, marketing online, and purchasing and selling online) with an average revenue gain of over 8%.

Over one half (57%) of Canadians use the Internet to window shop while 43% reported ordering personal goods or services online. Four sectors manufacturing, transportation and warehousing, wholesale trade, and retail trade lead the way in terms of value of online sales, accounting for nearly 61% of the private sector total (2006). While retail e-commerce has grown since 2000, it still only represents about 1% of total sales (2006). Manufacturing and wholesale sectors are more likely to engage in B2B sales (as compared to retail). In 2006, 58% of manufacturing enterprises and 50% of wholesale enterprises used the Internet to buy goods or services, respectively, as compared to 46% for retailers. The utilities sector has the highest value of online sales of any industrial sector (2006). Security and privacy remain a key concern for selling and purchasing online.

by: Bikiermen

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