Should Small Businesses Turn Attentions to E-Commerce?

These days, many small business owners are likely hearing all about the ways in which taking their companies online may help them to succeed and grow by potentially reaching a much larger audience than what they can find in their hometowns. However, doing so might not seem to be all that easy, and the task of actually doing it may come off as being somewhat daunting.

There are a number of ways in which some experts say that building a website specifically to help increase revenues through e-commerce can be relatively simple, but small business owners have to take the time to carefully evaluate whether that’s the right decision, according to a report from the Knoxville News. Not all companies are equipped for such a move, of course, and thus it will take careful consideration for owners to determine the best course of action for their firms. Some might be better off sticking with brick-and-mortar only, while others could benefit from having both a physical location and online destination, and still more might find that online-only would work best.

“My store schedule was 24/7. Nine a.m. to 8 p.m. was my day at the store; I’d come home and make notes for the next day,” Amanda Carroll, a small business owner who took her store completely online, told the newspaper. “Here, I just have a nicer routine. I include regular breaks from being hunched over something. I make time to meditate. I have days dedicated to researching potential markets and stores across the country. A lot of days are out in the field, at networking events, boutiques, stores and farmers markets to see artists’ works.”

Keeping options open
In addition, it might be important for companies that adopt these new options to keep watch when it comes to a number of things, the report said. For one, they might see their revenues fall overall if they switch to online-only, but if they’re also able to significantly reduce their ongoing costs, that might actually translate to a larger profit overall.

Owners who want to make sure their companies are as sleek as possible when it comes to making that transition, it might also be wise for them to explore their options when it comes to small business insurance. If they can reduce costs for liability insurance, for instance, they might be able to save thousands of dollars per year.