E-commerce businesses
What does e-commerce stand for?
E commerce means electronic commerce.
What does SOHO stand for?
Small Office, Home Office.
What does GDP mean?
Gross Domestic Product.
What is the problem with having too many employees?
It is costly.
What is an e-commerce business?
An e-commerce business is an online business.
What are the benefits of working from home?
Being comfortable in your own home, being your own boss, rarely have any arguments with people you work with.
What is the definition of debt financing and equity financing?
Debt financing: borrowing money to run the business.
Equity financing: using your savings or investor savings to run your business.
What is the problem with having too few employees?
Production is slowed.
What are three things an e-commerce business needs?
A website, a domain name, and a website page.
Define Primary Beneficiary?
The person (or persons) first in line to receive the death benefit from your life insurance policy — typically your spouse, children or other family members
Where can you find information about starting a business?
Libraries, existing businesses, trade associations, government resources, or the internet.
This term is the amount of money you will gain from the sale of the product or service. What is that term?
Revenue.
Why are customers nervous to purchase goods online?
Customers can’t touch the goods they want to buy, dishonest retailers, and Privacy concerns.
Where does the money come from when you first start a business?
Money comes from personal savings or money loaned from other people.
Examples of financial institutions?
Banks, trust companies, credit unions, etc.
As a business owner, you must determine what resources you require and how much financing you will need to acquire them. What is this process called?
Forecasting.
Do e-commerce businesses need a physical business space?
Yes, e-commerce businesses need a physical business area. This is where they organize and package the goods.
What are the four types of businesses?
Service, Not for profit organizations, retail, manufacturing.
Define Strategis?
Gives Canadians access to valuable business and consumer resources, timesaving tools, and larger number of online and e-commerce service.
Examples of resources needed to start a business?
Cash, inventory, supplies, furniture, technology, equipment, tools, vehicles, or buildings.