![\"ecommerce](\"https:\/\/nigerianfinder.com\/wp-content\/uploads\/2016\/03\/ecommerce-in-nigeria-e1457437296121.png\")
<\/p>\nFirst, what is E-commerce and why is everyone talking about it?<\/p>\n
E-commerce can be simply referred to as online business or e-business. E-commerce includes any kind of business or transaction that happens over the internet. The word \u2018commerce\u2019 means the exchange of products and services between businesses, groups, or individuals. The model of doing business over the internet, whereby firms and individuals can buy and sell things is what is referred to as E-commerce.<\/p>\n
There is an increase in the use of smartphones and the internet, this makes the e-commerce industry filled with potentials for huge returns. Since 2010, the e-commerce industry has witnessed tremendous growth and is still set to record even higher growth in the coming years.<\/p>\n
Online shopping sites that have become popular and successful in the e-commerce business include the likes of Jumia, Konga, Payporte, and Yudala. The success of these businesses have encouraged others to tap the e-commerce opportunity. This does not mean you would immediately become big like the businesses mentioned above, but if you dedicate the hard work and time, you could own profitable e-commerce business.<\/p>\n
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It is now even much easier to run an e-commerce business since there are cheaply available\u00a0tools you can use to launch and grow an online business. Now is the time for entrepreneurs and small business owners to consider going into the online retail industry. Notwithstanding, there are still challenges you will face when starting your own e-commerce business. This article provides tips and a guide you can follow to help you navigate through the rather difficult processes of starting an e-commerce business.<\/p>\n
Are you wondering if an e-commerce business is the best business terrain for you at the moment? Below are benefits and reasons you should start an E-commerce business<\/p>\n
Nigeria is a country with over 180 million residents. In order to make money, the question you should ask yourself is \u201cwhat value can I offer to even a fraction of this number that will make money for me\u201d. Building and running a physical store, (except after extensive research) might not be the wisest move to make in the 21st century. A large number of consumers now spend their time online. More so, businesses with a physical presence are also turning online to pull a wide number of customers. Remember, starting an e-commerce business does not mean you have to start out big as Konga or Jumia. You can start with a low capital and gradually build up your brand. This article will show you how to start an e-commerce business in Nigeria. Read on below:<\/p>\n
The first step in running an e-commerce business is to register your business or company with CAC. It is only upon registration that you can get a corporate bank account opened for your business and also obtain other\u00a0legal documents\u00a0that will be required in running the business.<\/p>\n
While many people think registering your business is not all that important, most online payment gateways and marketplaces that you will need to work within the course of your business require that a business is legally registered. This is a necessary step that has been taken in the e-commerce industry to combat cybercrimes that used to pose a problem in times past. You can begin by registering as a business name with CAC and later on as a limited company.<\/p>\n
Once you have come up with a name for your business, the first thing to do is to register it with CAC. Often times, many people have found that the business names they have been running with has been registered by someone else. It is always a big shock when one discovers that they have built a brand that is not theirs. You can confirm if your business name is not already in use by running a search on CAC\u2019s portal. When choosing a name, ensure you take one that expressly explains what your business is about. Your business name should also be easy to pronounce.<\/p>\n
Another important reason you should register your business is that many customers rarely want to pay into a private account, considering the increase in online scam rate. You can only open a corporate account when you have a business registration certificate.<\/p>\n
Registering your business also makes your business more credible and trusted. You will have more people want to do business with you when you have registered your business.<\/p>\n
A business plan is a document that states your business\u2019s future objectives and the strategies you want to use in achieving them. Many people ignore the business plan stage because they think running a business can be done off the top of your head. However, every business, especially an e-commerce business needs a business plan. A business plan is not a rigid guide on how to run your business. It simply helps to give you direction on what to do at every stage of your business. It also helps you not to lose focus on your long-term objectives.<\/p>\n
A business plan should contain the following information:<\/p>\n