What is E-Commerce?
E-Commerce, which is a widely-used colloquialism representingthe term ‘electronic commerce’ is a classification given to efforts designed to conduct business over the internet, which ranges from online-based commercial endeavors to electronic business activity. E-Commerce typically takesplace through the usage of the internet commercial marketplace, which – like business undertaken within the physical realm – operates in accordance with applicable legislature.
Activities undertaken in order to allow individuals or entities to conduct in virtual commercial activity is typically rooted in the facilitation of E-Commerce in ordergain opportunities to participate in the manufacturing, distribution, production, consultation, and management within the setting of the virtual marketplace. The constant advancementof not only E-Commerce opportunity, but also online business and electronic-based commercial activity conducted through the internet has allowed for transactions once limited to physical interaction to be conducted on an entirely virtual basis.
The Benefits of E-Commerce
Within the advancement of the electronic marketplace, many individuals and commercial entities undertaking in the E-Commerce marketplace have conveyed that there exist a variety of advantages latent within the process of conducting business on a virtual basis; the following advantages and benefits have been attributed to operating an E-Commerce business:
The prospect of operating an E-Commerce business not only assists in the elimination of costs, but also has been reported as proliferating marketing opportunity and sales efforts undertaken in order to the furtherthe reach with regard to prospective clients and consumers through virtual advertising and electronic expansion of the presence of an individual business. Furthermore, a large part of E-Commerce operations begin in home-based offices or residential settings, which allows for money saved in lieu of renting, leasing, or purchasing commercial space.
The expanse of the internet through the operation of an E-Commerce endeavor will typically allow individuals who would not – or could not typically interact the opportunity to interact of a virtual basis. E-Commerce has facilitated an unrivaled connectedness throughout the virtual market place; the use of online, electronic correspondence, virtual meetings, electronic financial management and transaction processes, and the development of a community of consumers within the realm of E-Commerce has been credited with propelling virtual, electronic business profits and sales.
Types of E-Commerce Opportunities
An E-Commerce endeavormay include a variety of natures with regard to the provision of products or services; however, through the implementation the postal system with regard to electronic commercial activity, purchases, sales, and financial transactions can be conducted on a virtual basis:
Freelance Consultation services and project management
Private lessons, tutoring, or information seminars conducted on a virtual basis
Assembly, manufacturing, and E-Commerce retailing
Vending, wholesale, and consignment
Web design and Remote Information Technology
E-Commerce Taxation and Legality
Upon the foundation of an E-Commerce endeavor, individuals are encouraged to explore the applicable method of taxation implicit within their respective commercial operation. In many cases, freelance E-Commerce businesses will be responsible for filing 1099 Forms provided by the IRS; however, the operation of an E-Commerce operation may entitle these individuals to be eligible for government grants, supplementary funding, and tax relief.