This article is the first in a multi-part series concerning the best ways for start-up business owners to capitalize on internet commerce. There are virtually no barriers to entry in launching an international online business. The simple steps of creating a productive structure for new e-commerce businesses will be the focus of these articles. Below are some of the basic steps that any new company must implement.
Selecting a URL for your company is one of the most important considerations for the success of a website. A good URL should be easy to remember and also convey what goods or services the website offers.
Create a list of URLs that you would like to operate under then log onto a domain registration site, like godaddy.com, to see what names are available. There is, of course, a chance that the first choice will be unavailable. If that is the case you have two options:
Try a secondary choice and hope it is available
See if the name you desire is for sale with a third party. Many entrepreneurs register domain names without ever intending to use them. They hope that somebody will eventually want that domain name and will be willing to pay more than what it originally cost to register the name. Prices are driven by the perceived value of the domain name. Manchesterunitedfc.com will probably be more expensive than…Meridenhoagieshop.com.
Once a domain name is established, hosting services must be selected for potential customers to be able to visit the website. Each website can have different hosting requirements. Websites with heavy traffic or that offer large amounts of music/videos will probably require a dedicated server. Websites that generate less traffic use can use a shared server. To learn more about read Inc Plan’s article “Selecting a Server for your Small Business.”
Register an E-Commerce Company
Incorporating your business means that you are serious about the business you are doing. Incorporating your enterprise will insulate your personal assets from those of your company. The Corporation or Limited Liability Company (LLC) helps shield your home, private bank accounts, cars, retirement savings, etc. – from the ongoing threat of business related lawsuits. Learn more about registering your new company.
The second benefit of forming a corporation is the possibility of tax write offs. Legitimate business expenses related to health insurance, rent on a home office, travel/entertainment, office equipment expenses, etc…can significantly reduce the business owner’s tax bill.
The third benefit of forming a corporation is avoiding double taxation. Double taxation occurs when corporate income is subjected first to federal income tax, and then taxed again as personal income when it is returned to shareholders in the form of dividends.
A fourth point to consider is that for individuals, only a US citizen may typically open a US bank account. In contrast, any US corporation, even those owned by non US citizens, may open US bank accounts with greater ease.
Establishing an address in the US or Europe gives potential customers a sense of security when contemplating possible business with a new website. Consumers like to feel that the jurisdiction where the company operates has laws that will protect them against commercial fraud. Customers are frequently hesitant to do business with companies where contract law is weak and there are few options for legal recourse in the event of a dispute. To find out more click here.
Get a bank account
Establishing a business bank account in the US (or Europe) normally makes it easier to make and receive payments on behalf of the company. A bank account also makes it easier to establish credit and get merchant services. Find out more about opening a US corporate bank account here.
Accepting credit card payments is essential for any e-commerce business to succeed. One of the great advantages of an e-commerce business is that strangers in different parts of the world can conduct business through a commonly accepted credit card payment system. The system provides safeguards to buyers and sellers who are can be confident that transactions will be consummated as agreed in advance. The threat of losing access to merchant services keeps business owners “honest” because the loss of the ability to accept credits card could mean the end of their business. The best way for a new E commerce company to engage the support of a merchant service provider is to maintain a proper bank account in the US or Europe.
To open your merchant service account Apply Here!
For your Incorporation, Virtual Office, Banking, and Merchant Service Needs please visit www.incplan.net.