Online Business is any form of entrepreneurial interaction conducted via the internet. It may take the form of business correspondence, product and service advertisement, money transfer and any other such interactions.
The internet forms a basis for interaction between sellers and buyers, just like a shop provides a hub for buying and selling. It however has the advantage of closing distances and forming a virtual business village.
Forms of Online Business
Unknown to many, there are billions of cash exchanging hands in the internet every day. Business is the number one reason for the explosive growth of the internet today. The said business takes, but is not limited to, the following;
Foreign Exchange (Forex) - this involves the exchange of one currency into another for profit or mark up. Forex is concerned with speculation as well as observation of money trends. Every currency has a certain value and can be compared with another. For example, one USA Dollar is equivalent to eighty two Kenya Shillings today. This changes depending on many market variants. If I have one hundred dollars and want to change it to shillings, I will earn Eight thousand and two hundred shillings (100 x 82 = 8200). The dollar rate could change within no time; let's say to seventy eight shillings. Then, if I change that to shillings, I will get seven thousand and eight hundred shillings (100 x 78 = 7800). The change in dollar rate, over a span of the few days or even hours has made a difference in value of four hundred shillings (8200 - 7800 = 400). Thus, depending on which currency I started with, I either gained or lost that amount. It is worth noting that the change can be both ways.
Article Source: http://EzineArticles.com/?expert=Kynyn_Kamau
The internet forms a basis for interaction between sellers and buyers, just like a shop provides a hub for buying and selling. It however has the advantage of closing distances and forming a virtual business village.
Forms of Online Business
Unknown to many, there are billions of cash exchanging hands in the internet every day. Business is the number one reason for the explosive growth of the internet today. The said business takes, but is not limited to, the following;
Foreign Exchange (Forex) - this involves the exchange of one currency into another for profit or mark up. Forex is concerned with speculation as well as observation of money trends. Every currency has a certain value and can be compared with another. For example, one USA Dollar is equivalent to eighty two Kenya Shillings today. This changes depending on many market variants. If I have one hundred dollars and want to change it to shillings, I will earn Eight thousand and two hundred shillings (100 x 82 = 8200). The dollar rate could change within no time; let's say to seventy eight shillings. Then, if I change that to shillings, I will get seven thousand and eight hundred shillings (100 x 78 = 7800). The change in dollar rate, over a span of the few days or even hours has made a difference in value of four hundred shillings (8200 - 7800 = 400). Thus, depending on which currency I started with, I either gained or lost that amount. It is worth noting that the change can be both ways.
Article Source: http://EzineArticles.com/?expert=Kynyn_Kamau
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