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Negatives Of E-Business

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What is economic growth? It is referred to as the rise in the market value of the goods and services that are provided by an economy. It is measured in terms of percentage of the gross domestic product (GDP).Economic growth helps in improving the standard of living for an individual as well as a community. In today’s competitive world it is very important to help forms of businesses carry out sale and purchase of goods and services so as to develop the economy. Seeing this ongoing development in our economy in today’s world, we have come a long way. But is this growth really healthy for us and not overtaking our economy?

Our economy grows so that we don’t have to rely on developed nations for facilities like food, health, education etc. These …show more content…

consumerism we can also see a positive that is highly advantageous for not only the business but for the economy as a whole. E-business being popular has had the maximum number of sales and profits in the recent years. It is prevalent that due to the convenience of buying everything just with a click and at highly attractive discounts, there has been a massive increase in the number of sales for all online businesses. Statistics have shown that online shopping has increased its sales from $72 Billion to about $322 Billion over the past 12 years which is a massive leap. This is helping the business have more accumulation of revenue and thus it can be used not only for development of the business but also for …show more content…

meaningful communication. The best part is that the harmful effects of online business don’t stop here. The most feared and talked about thing in today’s world is if online business is bankrupting the traditional mode of business. As we have already seen how dominating online business is and how there aren’t a lot of consumers left who actually go to a retailer to buy the required products. Online business by eliminating the middle man, manages to buy goods at wholesale rates and then sell them at heavy discounts. This is not possible as far as traditional businesses are concerned as there are a number of retailers/middlemen involved in this process which makes the products far more expensive even though they being much more

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