How to Start an Ecommerce Business

How to Start an Ecommerce Business

Meaning of E-Commerce Business

E-commerce means doing the business through the medium of internet. Through this business buyers and sellers can buy and sell goods or services online.E-commerce business requires computers. Although many people have started doing business in their smartphones also which is known as M-commerce.

E-commerce has many advantages as it creates a wider presence to target the customers. The biggest examples have been set up by E-commerce biggies such as Amazon, Flipkart, etc. which offers variety of goods on its portal which can be accessed from computer, smartphones, tablets etc. People can buy anything sitting at home just by one click.

As far as services are concerned example of Neusource can be taken as we are providing services in which everything can be done online, there is no need to visit the office, and at home services can be availed and live tracking is also there via mobile application. As you must be aware about the outspread of the recent Corona Virus throughout the country, E-commerce industry is still working as people can avail services or goods sitting at home safely.The e-commerce business is leading towards development in India which is supported by the internet facility and the smartphones. Even small business entrepreneurs can step into the E-commerce business as e-commerce industry is at its peak.

Some of the advantage s of starting an Ecommerce business is listed below:

Advantages of Ecommerce

Ø  Speedy buying and selling process as products and services are easy to find online

Ø  Flexibility through 24/7 presence

Ø  Wider reach to its clients or customers,

Ø  Lower costs involved.

Ø  Business can be managed easily.

Ø  Better growth opportunities

Two approaches to start your E-commerce business

First of all you need to work upon your plan of action which involves what you willoffer to the customers. After deciding that you need to deal with two approaches,

1)      Start yourvery own E-commerce website

2)      Join a well-established E-commerce marketplace

Starting your own E-commerce Website

Building your own E-commerce website involves the following:

Ø  Choosing a special name as well as buying a domain namein the name of business. Name must be catchy or attractive as customers will remember you with this name.

Ø  Then look from some website developer offline or inline. Nowadays online software’s are available where you can develop your own website easily.A logo must also be registered so that your business can easily be recognized and remembered.

Ø  Next step involves designing your website which will showcase your products or services, their rates, pictures, user reviews etc.

Ø  Then set up the gateway for payment so that customers can make payment through debit card, credit card, net banking, web wallets available etc.,

Ø  Buy SSL certificate security which basically protects your website and the information or data of the customers in which money transfer is involved.

Ø  Tie up with the courier or shipping company as setting up your own logistics department involves hefty amount of money.

Joining a well Established E-commerce Marketplace

To join an already established E-commerce business is an easy task to begin your business journey online.You can work with Amazon, Flipkart, Myntra, Paytmor various others electronic commerce portals. All you need is a current account number, GSTIN number.However some websites also demand trademark application number.

Steps Involved to Start Your Own E-commerce Business

Here we have mentioned the preliminary steps engaged to commence your online business journey,

Ø  Registration of business with the concerned department

Before you begin, you should get your business registered as company,limited liability partnership, regular partnership and proprietorship, etc. depending upon your budget, business structure and needs so that you can open a current bank account in the business name. For obtaining GST registration, cancelled cheque is required.

Ø  Registration with tax bodies

Whether you start with your own portal or does it join other E-commerce website, paying taxes to the GST department and other tax departments is must. Even in the initial stage where you might not earn much of revenue you must file NIL returns as compliance.

Ø  Open your business bank account

Once you get your business registration with concerned department, and thenvisit your nearest bank to apply for current account opening in the name your businessundertaking.At this stage, for a business firm you must hold the GST certificate in the name of the business.

Ø  Setting up of payment gateway

The subsequent step is to have a payment gateway integrated with your E-commerce website to permit customers to make their payments through credit cards, internet banking, debit cards and other online mode. With digital payment gateway set up, the customers can make the payment online which naturally gets linked and transferred with business’s bank account.

Ø  Find out E-commerce shipping solution

In order to deliver the goods, you must set up the logistics part. You can either do this in house or can tie up with a shipping partner. An assigned E-commerce logistichouse will assist you in delivering your online products to your customers at their selected place.

Conclusion

E-commerce business in India is a very fruitful business all you need to do simple research based upon your budget and needs. You need to target the audience and market your products and services.

The NeuSource Startup Mind is the finest business startup consultant that offer various services of registration like Proprietorship Firm Registration, Partnership Firm Registration, LLP Registration, MSME Registration, Company registration, GST Registration, Small Business Registration, Copyright Registration, ISO Registration, Trademark registration, NIDHI Company registration