Explain one way a small business can benefit from the use of e-commerce.Watch
Explain one way a small business can benefit from the use of e-commerce. (3 marks)
The business can access a wider market of potential customers at a low cost, that too, a target market (due to Google
collecting information from people), which means that the business can is very likely to generate greater revenue and
thus profits that it can use to reinvest back into the business (retained profits) to generate lower prices, increasing
their market share and compete (not run out of business) against bigger competitors than itself.
They are also not subjected to the cons of having a physical store such as paying rent of a premise, also not having physical liability of electricity bill, or being effected by a virus pandemic
I’ve created a revision site for A Level Business students which consists of revision guides for all units in the Edexcel specification (Themes 1-4). It also overlaps most of the content on both the AQA and OCR specification and many students successfully achieved A*/A grades using these notes. Let me know how you find it and if you want to see a section for A Level Economics. I believe theme 1 includes e-commerce which is what you're looking for