by Dr.Liew

Created on: May 02, 2008

Traditional small and micro businesses usually find it difficult to expand their businesses beyond the local market due to lack of money and resources. Their businesses are further affected with the proliferation of the conglomerates into almost every sector of the consumer market, and that makes them barely survive on their niche market. For example, small grocery stores will have to compete with hypermarkets such as Wal-Mart Supercenter in the US, Tesco of the UK and Carrefour of France, and many such stores have to wrap up to avoid further loss. The future seems gloom for these small businesses. Fortunately, the advent of the Internet has brought new hopes to the small businesses!

The world of the Internet represents an immensely big virtual market, and by taking your small business, your niche market will expand many folds because of its global magnitude. As your market expands, you will be able to generate much more revenues and grow your business unimaginable of before, and you will survive and strive even with the onslaught of the conglomerates. The beauty of the online business or popularly known as e-commerce is that you will spend much less money in setting a virtual shopping mall than traditional brick and mortal business. If you are selling on ebay, you don't even have to set up your own store, all you have to do is to set up an account with ebay. Besides, many personal websites are making tons of money only selling advertisement by joining Google's Adsense or sell digital products for download and let paypal handled credit card payment. Most of these personal websites don't need spend much money on overheads, many just need to pay hosting fees, what they are selling is knowledge and information, and this is what we call k-economy! So, every small business should take its business online not only to continue to survive but to expand its business in the extended virtual market.

Taking small business online also able to help to generate supplementary income for an average family especially when the economy doesn't look good. I would like to share my experience here. I have a small part-time business; you might not even call it a business because I only maintain a personal website that teaches people Visual Basic programming, it is a free Visual Basic Tutorial website. However, I could generate a part-time income of about a thousand dollars monthly by joining Google's Adsense and selling the e-book written by myself. Credit payment for my e-book is made possible by signing up with paypal. My overhead is only about two hundred dollars yearly. Therefore, taking small business can actually bring lucrative income with small initial outlay and very little overhead!

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