Advantages and challenges of E-commerce for entrepreneurial firms

Advantages
1.Ability of small firms to compete with other firms/companies both locally and nationally and internationally(promotional tools)
2.Creation of the possibility and opportunity for more diverse people to start a business
3.Convenient and easy way of doing business transactions(not restricted to certain hour of operation,open 24 hours a day,seven days a week)
4.An inexpensive way(compared to the cost of paper,printing,and postage prior to the internet for business to compete with large companies and make products available in other countries.
5.High revenues for small businesses that utilize internet.
Challenges
1.Avoiding being a victim of fraudulent activities online
2.Handling the costs required to maintain the site
3.Finding and retaining the qualified employees
4.Assuring security for a website and the back in intergration with existing company system
5.Managing upgrades(anticipating business needs/application)