The Internet business (sometimes called ecommerce) has had a profound affect on the many in businesses operate in the modern age. The Internet has been a great benefit, and sometimes a great hindrance, to many entrepreneurs in the last few years - it's almost amazing to try to track of the success and failures of businesses during this Internet era. Many people can start a business today, provided they don't mind work hard, are dedicated and are risk takers. Some experts scoff at the Internet; claiming it's both
over-hyped and undervalued. But for many Internet marketers, the Internet considered the most amazing invention in human history.
The Internet may change everything about how we work, learn and especially, do business. And, the Internet is changing how we do business at far greater rate than many of the other great technologies of the 20th century, even electricity, the telephone or the car.
The Internet allows companies to directly be in contact with their customers, often for the first time. Other companies use the secure Internet sites to improve relations with their business partners. The Internet has also contributed to making many companies more effective, some use the Internet to request sales quotations or sell
off perishable stocks, some businesses use it to sell services and goods or auction off items. A number of new industries and business models are bringing buyers and sellers together in a high speed, new, electronic commerce.
Many managers of prominent high tech companies have predicted the failure of businesses that don't actively use the Internet. This is probably an overstatement of the importance, but increasingly, customers rely on a business to have an Internet presence.
Some companies have done a great deal of research on the effectiveness of the Internet for businesses. For example, Andersen Consulting Company completed a survey in September 2000. They found that some European businesses feared competition from their counterparts that had an Internet presence, using it for their company's marketing and procurement. This awareness of how the competition used the Internet drove many companies to go online and develop the Internet for commerce. Seventy-five percent of European businesses surveyed said that their Internet presence was prompted as a result of their need to keep up with rivals,
and increase their strategic position in their industry or service sector.
This survey uncovered that about 72% of European firms are using the Internet for sales and marketing efforts; a substantial increase over the 1999 survey which found that only 53% were using the Internet for the same activities the previous year. The majority of companies (over 80%) surveyed in 2000 plan to take advantage of further e-commerce opportunities, and 72% say they already have an e-commerce strategy in place.
The Internet is not a business cure, but it does provide a unique opportunity for business to expand and address their customer's needs if used appropriately and expand their business.