When it comes to online shopping, there are several things to consider. Ecommerce is defined as the business of selling physical goods to consumers. The products may be picked up from a store or delivered to the consumer. Digital products are also classified as eCommerce, or e-goods. In some instances, the product may be delivered or picked up at a store. Regardless of the method of purchase, ecommerce allows consumers to purchase items that would normally cost them thousands of dollars.
While the process of establishing an ecommerce business is similar to setting up a physical store, the ecommerce process involves an intermediary. In most cases, the transaction is between a consumer and a company, but there are some differences between these types of transactions. A C2C transaction is a direct deal between two consumers without a company involved. A C2B transaction involves a buyer and a seller who are both consumers.
While there are many benefits to establishing an ecommerce site, there are some important considerations. Most businesses will be structured as a sole proprietorship, LLC, or corporation. While each type of business has distinct benefits and disadvantages, it is recommended to consult with a legal professional to choose the right one for your business. Once you’ve chosen the best type of business entity for your site, you can move forward with implementing the technology.
A separate bank account is also important to establish for an ecommerce site. Funds from credit and debit card transactions go into a merchant’s account, which will move into the business’s bank account within one to two business days. Since a merchant account handles the money, it’s essential to open a business bank accounts separate from a personal one for ease of transactions. The process of keeping track of sales is easier if you use a separate account for your business.
When choosing a business entity, you need to make sure that it’s easy for customers to find your site and that it’s easy to navigate. Using an online merchant account is a great way to avoid scams, and it’s a necessity for most ecommerce websites. If you don’t have a separate business bank account, you should consider having it setup separately. This will help you manage finances and keep track of sales.
Another key factor to consider when setting up an ecommerce site is the type of business entity. This decision will affect the legal and financial implications of your site. In most cases, you’ll need to choose between a corporation and a sole proprietorship. You’ll need to hire a legal professional to help you determine which structure is best for you. You’ll also need to decide whether you’ll incorporate your ecommerce website or a limited liability partnership.
A competent professional with around 15 years of Information Technology experience in the field of software design, development & maintenance of Web Sites and Web-based applications.
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- Dynamic, skilled professional with proven success in designing and developing n-tier client/server architecture based on Web Application.
- Strong understanding of OOA/OOP, architecture and programming with a focus on Web Engineering
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