Online business is a business that sells products or services using the internet. It is also known as an E-Commerce store. E-commerce stores sell products to customers online. These stores are often:

• Linked with courier services that move goods to the purchaser
• Linked with online banking services for transfer of money
• Accessible on the internet (websites) 24 hours per day around the globe
• Selling goods and services that are not commonly available in stores in Alberta 
• Selling products or services at a lower price than a neighborhood store

E-commerce stores are rapidly growing, as they are convenient, cheap, and easy to access. Opening an E-Commerce store has advantages. The business can reach customers from the comfort of their homes. This business requires:

1. Online capacity: a business website, use of servers, strong online marketing
2. Inventory
3. Relationships with courier and shipping companies
4. Secure online money transaction links that allow customers to pay with credit cards, e-transfer from bank accounts, PayPal, Cash on Delivery or another means

Knowledge and Skills for an E-Commerce Store Owner

In addition to basic entrepreneurial skills and knowledge, the owner will find it very helpful to know:

• Basic web design
• Online marketing
• Internet security, and
• Basic computer skills
• Demand and supply economics
• Delivery and payment systems

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To make my E-Commerce Business successful I need to consider the following points:

1. Sell something original
2. Know the reasons why a customer will buy my products when there are 100 other similar online choices
3. Know my online competition and the sites they use for advertising. I may choose the same sites to have direct competition.
4. Offer a user-friendly purchasing process. My online store is easy to navigate and fun to share.
5. Be responsive and provide great customer service
6. Choose a name that is short, catchy, and easy to remember. If my planned name is taken I will get creative. I can spell numbers out, add a small extra word, or add a hyphen.
7. Make a website that is not too flashy and is customer-friendly to make purchasing easy. I plan to have to purchase easily available by making no more than two clicks to the checkout
8. Satisfy customers with good digital security
9. Set up an account with a financial institution so that my customers can pay with a credit card
10. Keep my prices low so that more customers will come
11. Offer fast shipping at a low cost 
12. Keep planning. I know that the safety of customers, flexibility, and scalability of my E-Commerce store are factors that will affect my long terms success
13. Consider training and investment in reliable software

Steps to Start an E-Commerce Business

• Like any other business, an E-Commerce business must start with registration, permits and other relevant steps. For details, review the main section of the tool 
• Develop a business website. Many E-Commerce markets provide free online website templates such as Amazon and Shopify 
• At times small and new businesses develop their business social media accounts instead of making complete websites. Facebook also has a market place where the individuals post their products for sale free of cost. These are not formal channels of online E-Commerce stores and are recommended for long term business
• Many E-Commerce businesses need an Enterprise Resource Planning (ERP) system. ERP systems keep real-time exchange and recording of billing information, transfer of money, and tracking of inventory and orders. It is recommended to get technical support to develop this system from any software developer 

Many E-Commerce businesses connect with the online marketplace to make their products available beyond their website. People prefer to buy from market places because:

1. A larger collection of products are searchable because there is more than one seller
2. Buyers can compare prices
3. The process of ordering is customer friendly
4. Most market places provide free shipping

If an E-Commerce business does use a market place, a selection must be made. Each market place has its own customer base, rules, and policies, commission fees, and customer expectations. The selection of the market place depends on the need and scale of the business. 

If an E-Commerce business does not use a market place, it needs to establish a payment collection system. External support to provide technical work can be hired for the initial period

The Top Six Marketplaces in Canada

The information presented in the table is subject to change by the service provider. Check websites for latest updates.