The Rise of Online Entrepreneurs: Ecommerce By the Numbers (Infographic)
With lower startup costs and a broader reach, a growing number of entrepreneurs are turning to online retail instead of traditional brick-and-mortar businesses. According to data compiled by Ubot Studio, a marketing automation software company, ecommerce is a $200 billion industry in the U.S. that is projected to expand by 15 percent each year.
The data also show that technological advances such as storing information in the cloud and online payment options through companies like PayPal are on the rise, making it even easier to start an online business.
Kathleen Davis is the former associate editor at Entrepreneur.com.