If there’s one thing that surged in the past year, it’s the e-commerce business. Global e-commerce sales topped $4 trillion in 2020, putting the growth rate at 27.6%. There’s too much to unpack if we consider 2020, the trends, the behaviors. Surprisingly, e-commerce businesses are among the very few that turned out positively in the COVID-19 economy. And if there has ever been a good time to start your own, it is now.
Trend wise, more people have started exploring entrepreneurship than becoming, what they refer to as, “corporate slaves”. This might be a common trait among especially the new generation, which prioritizes mental well-being and following their dreams. But for people who get intimidated due to the responsibilities associated with setting up online shop, let’s make a convincing case for you.
For every reason an e-commerce business might seem difficult to start, there are many more reasons that make it worthwhile. Here are some:
You gain an independent stream of income 💱
If you don’t want to solely set up shop, you can work on it lesser and earn passive income. You decide what you want to start with and where you want it to lead you.
Digital innovations has made things much easier than they were before. Where you previously needed to set up a physical shop, now you need to establish an online presence. It doesn’t even need to be a separate website, you can start on platforms like Alibaba and Amazon. A big plus is that an online business presents the opportunity to avoid rent, which a physical one doesn’t.
Working from home can bring tax benefits 💹
Some people might not see this as an added benefit of starting an own e-commerce business, but it definitely is. When you start a business from home, you get your expenses deducted from the tax liability that you owe. (This may vary from country-to-country.)
This is due to the reason that you’re already spending money, assets and other things on the business from your personal use. You can include anything from utility bills, furniture maintenance or other payments that aid you in your work.
You get to work with people you like 🤜🤛
Many people decide to handle everything by themselves. But when everything gets exhausting and you need a spare hand, you can hire people according to your preferences as an employee.
When we’re employed ourselves, we often don’t get the option to choose our teammates and bosses. But with you having full autonomy, if you don’t like someone’s attitude, good for you, you don’t have to hire them!
You call all the shots 💪
This might feel repetitive with hiring your own team and earning on your own, but it’s much more than that. Once you come to own your online shopping business, you get to channel your creative energy with what look you want your products to be – including the packaging, the campaigns you run, etc.
Everything from top to bottom is your call. And that is what makes it so rewarding. Your responsibilities only come with the reward you’re bound to reap at the end of each process. From planning, marketing, promotions, pricing, packaging, everything falls under you.
The current e-commerce business landscape is unprecedented 👀
Lastly, the most important thing, current e-commerce market trends are through the roof. To reiterate what I said at the start, there hasn’t been a better time to be an e-commerce business owner.
The global number of digital buyers is expected to cross $2.14 Billion in 2021. This statistic is very close to the combined population of China and India. If that many people are using online platforms to buy goods and services, it should be a clear green signal from there on.
To end it, there are many reasons why people can’t work a 9-5 job. An e-commerce business allows you to work more freely, by being your own boss. It gives you the autonomy to choose your operations, timings and the structure. So if you’ve been thinking and were looking for a sign, this is it. 😉
If you think you gained considerable knowledge from this article, why don’t you share it with you friends and family? They may benefit from it too. 😎