Is online business worth for you to venture into? Should you invest in online business? Online business can means Internet marketing business or Digital Marketing business. There are various names interchangeable with the term, all refer to similar business. E-commerce is considered an online business. It allows the goods or services to be transacted on the internet without the physical presence of a store.
Look at China company Alibaba, one of those e-commerce players and consider the tech crown jewel of China, the company is expanding fast and always looking for opportunities in every market. It has invested huge money US$206 million into Singapore company’s SingPost to build its online retail business in SouthEast Asia. Singapore Online cosmetics startup Luxola has also been acquired by luxury giant LVMH for tens of millions.
The growth of Smartphone is everywhere and adoption of Mobile website and Apps are gaining ground in all the countries. Investing in online business will give you the advantages over competitors and you will be able to reach more audiences through your online platform.
With rising business expenses such as rentals and operating costs, setting up online business become an ideal option to consider for most of the companies, regardless they are small or big enterprises. With the digital revolution, we need to adapt the new mind set going online, or risk being left behind.
There are financial consultant encourage you to invest in stock or do currency trading, but these are risky investment and may wipe our your retirement fund if you are not careful and inexperience. To succeed in the investment market, you must have thoroughly understanding of the financial risks and potential gains. In addition, you need to well read about all kind of investment products and keep day to day update of what is happing in the financial world.
Hard to find workers in Singapore
Many companies in Singapore has a hard time to find workers, especially the small and medium size companies. SMEs usually do not pay as well as multinationals, and the situation is worst with current tight labour market. Therefore, if you think about setting up company in Singapore, think carefully, you will end up do everything yourself. In recent years, it is even more difficult as Singapore government increase the levy for foreign workers.
Show-rooming
This is a new term referring to shoppers visiting physical stores to check on the products before buying them online at a lower price. By “show-rooming”, the shoppers can touch and feel the items before they buy them. In fact, this term started year 2010 in the United States whereby shoppers visited the electronics chain Best Buy to check on the electronics goods, and buy from online store Amazon instead.
With the rise and use of smartphone, shoppers can check online to compare price when they are in the physical stores. For country like Singapore, it is even tougher for brick-and-mortar stores due to popularity of online shopping. The growth was 17% year-on-year for online spending.
Reach out to new market
With online strategy, companies can sell their products beyond the limitation of local market and to serve countries in the region and beyond.
Build your nest egg
As we live longer, we need to build more nest egg so that we have enough money to help us tide over the years when we are no longer working. The nest egg is our personal retirement fund we keep when we are still working, and safe it for later use. It is also a form of insurance and financial backup when you need it during emergencies.
The average life expectancy for most people has increased, therefore we need to recognize this and begin our financial planning. To have a comfortable life after retirement, relying on our social security income is not sufficient. We need alternative way to create income stream even when we are old. Online business is the best way to go about it and I have the method for people who are willing to learn. Go to my “Get Started” page.