The last one is underway! Greetings, today I am going to write about what account for the large number of entrepreneurs in the e-commerce industry and why I believe this sector has seen a larger growth than traditional industries.
Now every industry that is going through a boom witnesses a surge in the number of start-ups and ancillary industries. But what sets this apart from traditional booms is the people being benefiting from it. This e-commerce revolution seems to be reaching the middle class and low income entrepreneurs. Traditional booms seem to only benefit the already rich or the occasional daring entrepreneur who is willing to take the risk of putting up that much capital. Right from techies quitting to start their own website to families beginning to manufacture products to sell exclusively online, e-commerce seems to be reaching the grassroots and making an impact. The question that therefore arises is why is this happening?
According to me this is because of the Ease of doing business. There are barely any hurdles to setting up a business as compared to a traditional brick and mortar business where licences, approvals and so on play a major part. Setting up a website costs a few thousand rupees and registering oneself as seller on any website like Flipkart or Amazon is easier. Also, the risk associated with this is lesser as compared to businesses that require huge capital. While there undeniably an increased number of failures, these seem to be offset by the one successful firm.
Overall the future looks bright. In a entrepreneur starved India, e-commerce seems to be the knight in shining armour that will create the much needed growth in jobs and opportunities. Adios!
– Narayan Sharalaya