On top, the global Internet population is growing too. By 2023, ecommerce will account for 22% of global retail sales. You can sell to anyone, no matter where they live.Īnd with each passing year, your pool of potential customers expands because more people are getting comfortable with the idea of online shopping. Renting in prime locations is expensive, there may not be enough foot traffic some days and the local crowd just doesn’t need stuff all the time.īut guess what? When you run an online business, none of these limitations apply.

When you have a brick-and-mortar business, you have to deal with the limitations of the “real world.” Of course, the more starting money you have, the more online business ideas you can pursue.īut the point is that you don’t need to risk your life’s savings to become a (successful) online entrepreneur. In other words - it’s feasible to launch an online business with $100 as a starting capital.

Website builder: Monthly plans start for $29.90/mo.

However, with an online business, all you need is: What if you invest all that money in your business but it doesn’t work out? This can ruin you financially. You have to pay for a lease, purchase inventory and budget for employee salaries. It is fairly inexpensive to start.Ī lot want to start a business but are deterred by the investment required to get it off the ground. Why not go with a brick-and-mortar one instead?īecause starting an online business has several advantages. You may be wondering why start an online business in the first place. You still need to come up with a viable product idea, figure out your sourcing or manufacturing strategy and then your sales model.īut all of the above should not discourage you from starting an online business! Reasons You Should Start an Online Business Yet, while the entry-barrier got lower, it’s not fully gone either. Today anyone can start and scale an online business, regardless of their professional background or past entrepreneurial experience. Granted, in 2021 that’s no longer the case. Starting capital had to be significant, while outside funding was scarce (unless you had a ‘commerce-savvy family).

Download the complete in-depth, 16 chapter guide.īack in the day, only the privileged few could start their own businesses.

101 best online business tools to start