Your job prospects aren’t looking good and you find the lure of an online business appealing. There is a huge difference between having an idea for a business and having a business.
I hear people saying ‘it would be great to have an online business’. It earns money while you sleep. Look at so and so, they have an online business. Have you seen the size of their house?
The market is BIG and highly competitive. You will need a product/service, start-up money, expertise (your own or paid for) setting up and running your business, technology, marketing, sales, accounting and and. How do I know? I have done it several times and it ain’t easy. You take the risk and you have to accept you might win big, and you might lose (hopefully not big!). Knowing when to quit, you got it wrong, is a hard lesson.
I’m not here to put you off. The statistics tell the story – your decision – how much do you want that online business? Or, will you settle for a regular wage?
Is 2020 a good time to start an online business, in the middle of pandemic? Why not, online businesses are growing fast as we are confined to our homes, or detest the whole ‘wear a mask’ shopping experience (nah, I’ll hop on Amazon).
How big is the UK market?
What are you going to sell online? What are people buying?
You are all set. Good Luck.
Credit Statista September 2020, source at: https://www.statista.com/topics/2333/e-commerce-in-the-united-kingdom/