Q.Justify the following statement.
It is easy to set up e-business as compared to traditional business.
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Start your 14-day free trial to unlock the full solution →An e-business is conducted electronically over the internet, so it does not need a physical shop, large investment or many formalities. This makes it quicker, cheaper and simpler to start than a traditional brick-and-mortar business.
Justification: It is easy to set up e-business as compared to traditional business
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Low capital investment — E-business does not require costly buildings, showrooms, godowns or large stocks. A website and basic infrastructure are enough, so it can be started with relatively little capital.
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No need for physical premises — Traditional business needs a suitable location, shop or office. E-business operates through a website, so a physical shop and prime location are not necessary.
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Simple and few formalities — Starting an e-business involves fewer legal and procedural formalities. It can be launched quickly once the website and payment arrangements are ready.
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Fewer people required — A traditional business needs many employees for selling, handling and supervision. An e-business can be run by a small team, since many activities are automated.
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Wide reach from one place — An e-business can serve customers across the country and the world from a single location, without opening branches, unlike a traditional business that must expand physically.
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