The Importance of Online Business - Presented by Victoria M. Parham, President of VSSCyberOffice in St. Croix, Virgin Islands.

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e-Business
“The Importance of Online Business”
Presenter:
Victoria M. Parham, President & CTO
Virtual Support Services, LLC

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Facts… The Survey Says
• 62.7 million women are online and 51% of the online
population are women. (ComScore Media Metrix,
12/02)
• Thirty percent (30%) of women said they used the
Internet 16 hours or more per week for business,
compared to fewer than 10% who use it solely for
personal purposes. (Simmons Graduate School of
Management)
• Online sales in the U.S. are growing 30%-40% a year,
whereas offline retail has been growing at about 4%.
(“What went right,” 2002)

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Facts… The Survey Says
• Women business owners are more likely (57%) than
women employees (40%) to purchase online. (Center
for Women’s Business Research)
• Buying online is just the beginning for women. One-
third of working women who make purchases online
also conduct banking transactions (17%) and pay bills
online. (www.cyberatlas.internet.com)

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Facts… The Survey Says
• Women comprise 63% of online shoppers and are expected to account
for $46 million of online buying in 2003. (The South Florida Business
Journal, 2002)
Differences between men and women entrepreneurs:
• O 61% of women and 55% of men use the Internet for business
• O 50% of women-owned firms and 54% of men-owned firms have web
sites
• O Most women- and men-owned firms are engaged in e-commerce;
75% of women and 74% of men go online to purchase goods and
services for their business
• O 52% of women and 51% of men sell their products or services online
• O 57% of women business owners are much more likely than other
working women to make personal purchases online. (Center for
Women’s Business Research)

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Women in Business and Technology
• Women-owned firms made approximately $50 million in
computer-related purchases during 2000. (Women in
Technology International)
• Thirty-nine percent (39%) of business influencers, defined as
those who are involved in the purchase of computers and
related products for their organizations, are women. This is a
universe of 9.2 million female business influencers. (Women in
Technology International)
• Twenty-two percent (22%) of women business owners say that
technology is one of the most important issues facing their
business. Fifteen percent (15%) say it is the most important.
(Center for Women’s Business Research)

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Women in Business and Technology
• Women-owned businesses have an estimated investment of
$106 billion in computer hardware and software and are
planning substantial future investments. (Center for Women’s
Business Research)
Fifty-one percent (51%) of women-owned businesses surveyed have
Web sites, of those:
O 84% say their sites are not a main source of revenue
O 68% have had their site for less than three years
O 65% use it for information purposes only
O 15% have e-commerce capability
O 8% use it for online conferencing and forums
O 11% use it for all three purposes.
(Center for Women’s Business Research)

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Benefits of Expanding
your Business into
CyberSpace

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Benefits of Being Online
• 24 Hour Marketing to potential clients
• Tap new markets within US and overseas
• Go from local to Global
• Close sales faster by incorporating a merchant
account (offer clients various payment options,
credit cards, electronic check)
• 24 hour technical support via frequently asked
questions
• 24 hour client payment center
• Update inventory and company information quickly

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Benefits of Being Online
• 24 Hour Marketing to potential clients
• Tap new markets within US and overseas
• Go from local to global
• Close sales faster by incorporating a merchant
account (offer clients various payment options,
credit cards, electronic check)
• 24 hour technical support via frequently asked
questions
• 24 hour client payment center
• Update inventory and company information quickly
• Disseminate critical information to employees,
alliances, vendors, suppliers, and partners quickly
and cost effectively

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Bring it Home – Why Go Online?
• In the new knowledge economy, an online
presence for your business is quickly becoming
a MUST
• Corporations and federal agencies are already
onboard
• Go online so that you won’t be left BEHIND….

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Thank you…
CONTACT INFORMATION:
Victoria M. Parham, President & CTO
Virtual Support Services, LLC
vparham@vsscyberoffice.com
To learn more about Starting, Growing,
and Managing an Online Business,
participate in our online
entrepreneurial seminar series:
www.vsscyberoffice.com/vlearning.htm