Internet Dependency (Part 1/2)

It is no surprise that ever since it’s introduction, Internet usage by United States businesses and government has been growing rapidly over the past decade or so. Additionally, Internet dependence has permeated to every inch of the global economy. For instance, according to a 2007 study published by the World Bank, between the years of 1994 to 2004, Internet usage in the United States grew from less than 10 million users to more than 180 million users.

A Reason to Depend

By 2010, it is projected that the Internet will save U.S. businesses approximately $500 billion and increase revenues of $1.5 trillion (BR). Why is this, you might wonder? The Internet is a valuable resource which reduces the amount of time, money and effort spent communicating ideas as well as information to people around the world. If businesses are saving time, then it allows them to accomplish more, thereby increasing revenue, etc.  There are also other economic benefits from the increased use of the Internet by businesses, which (according to BR) include the following:

• Enhanced communications between businesses and companies/consumers

• Lower search costs that enable businesses to purchase materials at a lower cost

• Increased productivity

• Lower inventory costs

• Increased competition by making information readily available

• Lower accounting and finance costs

• Expanded sales and delivery channels

Now, what business wouldn’t want that? However, we need to be weary of our seemingly  harmless dependence on the Internet. A lot of businesses have turned towards the Internet for all of their company needs. There’s that saying about putting all of your eggs in one basket.  Perhaps, we need to pay more attention to that. For more information on Internet Marketing, contact Create Business Growth!