“It is not the strongest or the most intelligent who will survive but those who can best manage change.” – Charles Darwin.
This adage rings the truest today as the digital transformation wave takes over businesses worldwide. Post-pandemic, e-commerce is the most preferred medium of shopping for food, consumer electronics, clothes, groceries, and whatnot. For small-scale enterprises, embracing this change is even more beneficial, as it unlocks newer opportunities. From availing special business loansto saving considerable costs, the benefits are aplenty; here’s a few of them.
Overcoming Geographical Barriers
Probably the most significant e-commerce business advantage is being able to reach diverse and broader consumer bases. Gone are the days of selling from your brick-and-mortar store. With an e-commerce website, you are not bound by geographical boundaries anymore. Instead, people worldwide can purchase your products!
Special Loans for E-commerce Businesses
There are benefits of e-commerce for business loans as well. India’s e-commerce market is scaling at an astounding CAGR of 27%. Customers are moving to online marketplaces for convenient shopping, attractive deals, broader product choices, and more. Thus, lending institutions now offer specialized financing for such small-scale enterprises.
Lenders usually extend such loans with more favourable terms, such as affordable business loan interest rates, easy eligibility, flexible repayment, etc.
What’s more, businesses can also evaluate their EMI in advance using business finance calculators. As a small-scale business, availing of a loan that supports your cash flow is a must. With the EMI calculator, you can determine the instalment and interest payable beforehand.
Additional Read: Tips to Grow E-Commerce Business
Lower Operational Costs
Another perk of having an online store is cost reduction. Instead of establishing numerous physical stores for expansion, a single e-store will seal the deal, and operational costs will remain on the lower side.
Social Media Traffic
Add social media’s power to your business’s digital presence, and you’re looking at massive profits. With Facebook, WhatsApp, Twitter, etc., at your disposal, you can spread the word about your e-store across platforms. Thus, customer acquisition will be much higher, and you will soon have a steady customer flow.
Additional Read: Trends Transforming Online Business Lending
Higher Marketing ROI
Small business owners usually advertise to their local customers through flyers, posters, etc. But as an e-commerce enterprise, you can promote your products by conveying your brand’s marketing messages through email, search engine advertising, and more to audiences worldwide. Automatically, the business ROI skyrockets.
Get Proper Financial Assistance for Your E-commerce Ventures with Tata Capital.
If you need funds to kick start your e-commerce business or grow an existing one, Tata Capital’s business financing options are here to help. Our easy business loan eligibilityterms, attractive interest rates, extended tenures, and flexible EMI plans guarantee that your business goals face no financial obstacles.
Moreover, Tata Capital’s business loan EMI calculator will help you quickly calculate the instalment amount before picking a suitable financing option. All you need to do is fill in your loan tenure, interest rate, and amount!
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