What is e-Business and their Features
E-Business has made shopping easy for us. We don’t have to go anywhere physically, we can shop from home and get great deals. But do you know what the types of e-business are? What are its features? Let’s find out more about e-Business.
Introduction to e-Business:
e-business or online business refers to business transactions that take place online with the help of the Internet. The term e-business came into being in 1996. E-Business is a summary of electronic business. So buyers and sellers don’t meet in person.
In today’s world, we face different types of e-business. Since its emergence, it has grown beyond the good and the limit. Some have predicted that it will soon overtake brick and mortar stores, though it remains to be seen, we cannot ignore its enormous role in the current global economy.
Benefits and Surety Risk in Online business:
- It’s easy to set up
- No geographical boundaries
- Much cheaper than traditional business
- There are flexible business hours
- Marketing strategies cost less
- Online businesses receive subsidies from the government
- There are a few security and security issues
- No personal contacts
- Buyers and sellers cannot be found
- Delivery of the product takes time
- There is a risk of transaction
- Anyone can buy anything at anytime from anywhere
- There is a higher risk of transactions than traditional businesses