Risks of conducting online business

Risks of conducting online business

yeddy guyy

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**Internet Security**

When you collect personal information, including addresses and credit card numbers, you have the responsibility to protect that data. Hackers who target your website could gain access to sensitive information and put you at risk for a lawsuit. Understand firewalls and other protections you need and have them in place before you open for business.

**Legality**

Depending on what goods and services you offer, you may be prohibited from selling or shipping to certain areas. You’ll also need to collect and pay taxes, which vary by country, state and even city. Be sure you understand the laws before you do business online.

**Fraud**

Accepting credit cards or bank information over the phone is risky. You don’t know if the person buying the item actually owns that financial information. You also could also receive false shipping information, which means you lose that merchandise and its income.

**Time Commitment**

Remember that you’ll need to update your online profile regularly so that your information is fresh and accurate. Be prepared for trolls, too, as your audience expands. These activities require time, so decide now if you have enough time to handle an online presence.

**Searchability**

Your website, blog and social media posts compete with thousands of other voices for attention. If you don’t use the right keywords, no one will find you, and you’ll be wasting your money. Be sure you have the right resources to maintain your company’s searchability before you commit to going online.

**Ongoing Cost**

In addition to paying for your website and web hosting, you’ll need to pay someone to update your online presence regularly. Consider whether or not you can afford this expense and if it will improve your bottom line.

Your small business can benefit from a website, e-commerce site and social media accounts. Know the risks and prepare accordingly to ensure you and your customers are protected
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