We focused on online retail and services this week. Why were so many entrepreneurs initially drawn to start businesses in the online retail sector?
This took place for a few different reasons. The main reason was due to ease. Entrepreneurs saw that with an internet connection, minimal equipment, and a few additional resources, the business could be 'up and running' in a short amount of time, when compared to attempting the same type of business through a traditional brick and mortar location. With the internet, businesses of all different sizes and types find it easier when compared with traditional means, in the majority of cases. Another reason is due to cost. ...
This solution explains why entrepreneurs are originally drawn to start businesses in the online sector.