What is E-commerce?
E-commerce is business which takes place between companies using the Internet, you are able to transmit inquires, orders, invoices, payments etc. directly through your computer.
December of 2002 saw 9 million of us getting out our credit cards and going e shopping. The number of us buying and selling online be it B2B or B2C is increasing, 33% of UK consumers over the age of 16 browsed the internet in the last 6 months, with 22% of them actually buying online.
B2B has reportedly done better than B2C showing steadier growth and higher profits.
As you may already know, the model that SME’s are based on is the ‘80/20 rule’- that is 80% of your turnover is due to 20% of your customers. Being online you have the ability to increase your customer base, increase your competitive edge, and raise awareness of your product/service, giving you that all important commercial gain.