Posts Tagged ‘Affect’

Will the Economic Downturn Affect Small Businesses? a New Perspective

The recent sub-prime mortgage crisis and the interlinked subsequent turmoil in the financial markets has generated many concerns in businesses and the general outlook on the economy. The question we want to answer is: will it affect small businesses?

There is no easy answer to this question. But let’s examine the different drivers at play.

On one hand, we have a mortgage market that’s become a lot tighter. This will make it increasingly harder for people to get mortgages. Traditionally, borrowing against your home has been one of the most common ways of funding a new businesses (according to a survey conducted by the Federation of Small Business 25% of start ups use bank loans as their main source of funding, while 49% use bank overdrafts). So these facts would indicate that the credit crunch will have a knock-on effect on small businesses by affecting entrepreneurs’ ability to raise funding.

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Internet Marketing Elements That May Affect Your Home Based Business

Nowadays, many people choose Internet Marketing to earn full time income. A lot of individuals who are working at home and managing their home based businesses either partly or entirely dependent on Internet Marketing as an effective job to make money. Regardless it is an individual or a company, both need to fully understand the concept of Internet Marketing and keep in mind several factors that might really affect their business.

As any other new profession, Internet Marketers are also facing some challenges and obstacles which may eventually lead to reduce the chances of their success. The main challenges are the language and culture barriers that may cause some problems for Internet Marketers while interacting with their customers and other partner websites. Therefore, there is a pressing need to develop kind of programs that would help in translating the different languages to those understandable by customers.

Not to forget the cultural differences like principles and customs as well. May I also emphasize on the importance of a good management while marketing on the internet to cope up with the rapid changes in the market on both local and international levels. Also keep in mind that marketing is a difficult job to perform especially as it might not work if the people working in this field are not professionals in doing this well.

In the Arab World for example, this might be one of the main challenges that is facing Internet Marketing companies, considering that what happens in most of the Arabic companies is only an attempt to market electronically but really without any supporting specialty. These companies often fail to copy the right means and methods of marketing online thus in many cases they simply do not succeed to communicate the message or to present the overall product to the end customer.

Adding to that, according to some online marketing experts, these copied methods will not aim to more than either experimenting what might work and waiting for a reaction or applying the trick and seduce strategies similar to any other traditional marketing transaction.

Privacy and Confidentiality are also considered among the obstacles that face people working in this field. In other words, the number of customers who adopt the idea of shopping and dealing through the internet will definitely affect its popularity, especially that most of the electronic transactions require getting some information from customers such as name, nationality, address and payment method. For this reason, there is a need to incorporate special security softwares and plug-ins to maintain the privacy and confidentiality of the commercial transactions by encrypting the electronic payment system to avoid suspicious and fraudulent activities.

Other concerns about the privacy factor include the necessity of introducing the laws and procedures to regulate the internet marketing operations and preserve copying and publishing rights on the web as well as develop the financial and commercial systems to facilitate online marketing activities. It is also very important to educate and make individuals and organizations aware about the internet and its effects on our modern lives especially in those countries that are still behind in using the internet.

The good news though is in spite of the challenges facing Internet Marketing as discussed above, Information Technology experts are optimistic that Internet Marketing jobs are going to get better opportunities and seekers in the coming days with the wide spread of the internet and the huge circular of commercial and intellectual transactions already happening through it.

International Trade Organization for instance, has published a report that illustrates that number of internet users in the world have increased to more than 100 million users in 2005 which 1/3 were from the United States itself. The report has also stated that the expected business transactions that are taking place through the internet will constitute about 70% of the total global trade by 2010.

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