The 5 Simple Benefits of E-Businesses

Electronic-Business, otherwise known as E-business, is quickly replacing and/or augmenting current brick and mortar stores all over the world and we are going to find out why. Electronic Business which may be categorized as the use of a website to make sales--has notable advantages. Additionally, according to www.CheshireHenbury.com “Business of all sizes in all sectors are using the Internet in many different ways - to work with partners and suppliers, for procurement, for internal activities such as knowledge sharing and new product development, and much more.” To understand why websites like cheshirehenbury.com are supporting the E-business revolution, we will be exploring the noted advantages of E-business’s in order to understand how it can benefit business.

For starters, E-business structure speaks to five easy benefits to business. That is it removes location and availability restrictions; it reduces time and money spent on a business;
it expedites customer service; shows you how to improve with tools like google analytics; and finally it keeps your business relevant (2). Let me explain these benefits.

Firstly, a store open in one location can not make a “traditional sale” (someone coming in and buying an item) anywhere else. But a business that is online and has a website can make a sale all over the world and at any time. With tools like paypal, ebay, and amazon, making sales online has never been easier. Also, there are no availability restrictions with a website. With the exception of www.BNH.com, which closes for its observance of the Jewish sabbath(3), most websites stay open 24/7.

Second, when one has a physical storefront, there are costs that go into keeping that store open. Chiefly, rent, electricity, insurance, hot water, utilities...etc. (2) Having only a website means you just need to by the fees for owning the domain. Which is important for any business functioning in the fallout of the 2007-08 economic meltdown. Plus, a store owner with a website has to merely roll out of bed and log onto their PC to check invoices, make sales, tweak marketing and check up on their business. This is a massive time saver when compared to driving to work, opening a store, setting up and then waiting for customers.

Now, one of the most important of the Five Benefits to E-business is how E-business functions in the realm of Customer service. E-business are not shackled by the same values of a brick and mortar store. According to Chron.com the “Quality of service [used to be] determined by how long a customer had to wait inline, how courteous the sales associate was, the hours the provider was open and how well they could respond to your needs. In the Internet age, most service relates to the ease-of-use of a website, how simple it is to navigate, shipping options and the ability to track your purchase.” (4) Clearly, E-business’s have changed what customers value. Which is a welcome playing field for most “mom and pop” stores, which now have to compete with “big box” businesses.

When small, local stores compete with national buying power of stores like CVS, Walmart, and Target, they (the small stores) can’t win. However, with the help of E-business structures-- stores can stay relevant. They can make sales, have a cool website, and communicate with their target market using social media and other means. Having a web presence is one of the most important things a business can do to successfully compete in the global marketplace. Web presence is to business as sonar is to deep sea fishing.

In Conclusion, our world is changing and with it, so is the way we do business. small and large business owners need to be aware of the benefits of E-business’s. Without this knowledge, we will see more and more “for rent” signs on the main streets of our local towns. With this knowledge we will see economic prosperity. That is, “the adoption of e-business at the microeconomic level of retail, wholesale, and labor market transactions has an enormous impact on the performance of firms and the eco-nomic welfare of consumers and workers” (5 Page 1, Abstract)

1. http://www.cheshirehenbury.com/ebusiness/ebbenefits.html
2. http://onlinebusiness.volusion.com/articles/e-business-advantages/
3.http://www.canonrumors.com/forum/index.php?topic=6318.0
4. http://smallbusiness.chron.com/effect-e-business-customer-service-2097.html
5.http://digitalcommons.pepperdine.edu/cgi/viewcontent.cgi?article=1009&context=sppworkingpapers