Let’s get to know some interesting tips to set up an online business in Sri Lanka. Sounds enticing? Well, it is interesting to begin an online business in a nation that is already showing impressive progress in various other corporate fields. Due to the rapid progress of commerce and social topography, online business also seems to be seeing a great opportunity here.
Other business opportunities are equally going up in Sri Lanka. It must be noted that, whether online business or physical retail industries, there are some governmental registration processes. You must complete that business registration process in Sri Lanka to run any sort of trades here.
Now, let’s get back to the online business topic. In this article, we will be introduced with some useful tips about starting an online business. Through those tips, we will also try to get enough acknowledgments regarding pre-requisitions, required resources, and vital company procedures to establish a successful online business in Sri Lanka.
Determine your company services
At first, you need to determine what kind of services your company will provide to the customers. Determine deliverable products. Entrepreneurs often go for online services or eCommerce business. In the case of eCommerce business, you can either go for a general niche business spectrum or a single niche spectrum. For example, e-commerce sites like Greasemonkey.lk deals solely on selling automobile products, whereas, Shopping.lk is rather has a wide spectrum of products for customers. So, you first need to determine which niche is right for your online company in Sri Lanka.
Invest in Web Development
The next tip would be investing capital on developing and designing an online website. As it is all about online business, a platform is a must need to carry out that business and reach maximum potential customers. A proper website customized solely for your business is the answer for all those requirements.
If you are skilled in web designing and development, then it’s your lucky day, as you are saving a whole lot of capital and obtaining a visa to Bangladesh as a Sri Lankan citizen. Most of the time you may need a website designer and developer to develop your online business platform in the form of a website. However, a website like WordPress and Theme Forest made things much convenient and easier when it comes to design and develop a website.
Buy a domain and hosting space
Once you are ready with a website, you need to determine the name of your online business. You have to search for a suitable domain name. Through that identity, online customers can reach your business on the internet. There are various domain hosting websites. A website like HostGator is a great destination to choose and buy your website’s domain name.
At the same time as purchasing the domain name of your website, you also need to purchase a web hosting space. This will reserve a particular space for you online. You can use that space wisely to showcase your content and products online. This space is also useful for creating your own mail hosting identity. There are various websites like Lanka Host or GoDaddy that provide hosting services.
Here are some online business ideas in Sri Lanka
Online learning Class
A good business opportunity in Sri Lanka lies in teaching fields. This gets an upgrade once the learning process went online. If you are an expert in any sector, especially skilled in the professional field, feel free to try it online, and you might end up setting up an online learning class in Sri Lanka.
Consult clients regarding various business niche, like company accounts and auditing, business registration etc. the only difference here is, instead of face to face consultancy in an office, this can be done online. For instance, through online video chat on Skype or Viber messenger.
This is a good online business option that can run without investing money. Here you have to advertise products of another web source on your own website. This can be beneficial for both the source website and you get a certain commission on profit for any customer purchase.
This is a very popular way of marketing your business products. If you think you can advertise products In front of the camera well, this sector is open for you. All you need is a camera or smart mobile phone, capability to talk well in a convincing manner In front of the camera, some basic video and audio editing, rendering, uploading skills and proper blog website account. Nowadays, YouTube seems to be the main platform for such business in Sri Lanka.
Engage SEO specialists
If you think you have all resources, and websites ready to roll to generate the revenue, you are wrong. You might still need one more key tool for your online business. That is SEO and Google Ads. You need proper SEO specialists to rank your website at the front of the search engine. This will facilitate better website searches by clients and online users. If you don’t want to hire an SEO OR SEM specialist, you yourself can do some basic advertisements on social websites. Eventually, that will lead to better sales and trading opportunities. Well, now you need to know about open a bank account in Sri Lanka as a foreigner.
Finally, if you need any further assistance and advice regarding starting an online business in Sri Lanka, contact S & F consulting firm, and get in touch with the business experts.