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How Online Business Opportunity Can Help Belize's Economic Development Belize is considered to be a developing country, but according to the World Bank classification, the country falls into the category of the upper-middle income group. In the Doing Business 2014 survey, Belize is ranked 106 out of 189 countries by the World Bank. The current economic condition of Belize is unstable and the unemployment rate is actually quite high. What Is An Online Business? An online business refers to any kind of business activity done via the internet. It can be buying and selling products online, or providing online services. It is the exact same business model as a traditional business except for the fact that the office or shop is online. Benefits Of Starting An Online Business: -Building or office rent, staffing, and most other standard business costs are not needed -Faster, easier, and cheaper to communicate with the suppliers and the customers -24/7 availability to the customers -Outsourcing online staff can offer more availability at a much cheaper cost -Chance for exponential business growth Important Things To Consider: -Software, hardware, website design, or application development cost -Some technical or web knowledge may be required -Risk of online fraud. Current Economic Condition Of Belize: The lack of technical personnel and skilled laborers are a major problem for the economic development of Belize. In 2013, the unemployment rate was 11.70% and in 2014 it increased to 12.10%. The employment in Belize involves three prominent sectors: agriculture (10.2), industry (18.1) and services (71.7). The work force is inadequate, the wage rate is very low, and at this wage rate, the people of Belize can't maintain a decent standard of living. The economic freedom of Belize has decreased by 7 points over the last five years. Around 33.5% of the total population lives below the poverty line. Belize is facing an exceptional economic and financial crisis. So, How Can Online Business Opportunity Can Help The People Of Belize? No Need For Huge Funding: The main advantage of an online business is that it does not require the huge amount of funding that traditional businesses demand. A Source Of Extra Income: Online business can be a great source of extra income. It can be done on a part time basis along with another job or career. There are a huge number of companies available online who offer home based business opportunities. Enhancement Of Women's Careers In Belize: In Belize, women (on average) earn less income than men and face discrimination in the business sector. By venturing into a home based online business, they have the potential to earn more as well as gain valuable experience and enhance their business career. Internet Access Is Supportive For Online Business In Belize: For doing online business, internet access is absolutely necessary. The good news is that Belize has an significantly improved its internet coverage over the past few years. Online business is a really great option because it yields a large income potential with a relatively low start up cost. Only a small amount of technical and business skill is actually required to run a successful online business. For more information about business opportunity in Belize and how to start your own successful online business see, The Business Success Blueprint Edward Rosenberg is a professional business and marketing expert. He has studied, researched, and implemented dozens of various marketing methods for several businesses over the past 5 years. To find out more about Edward, Click Here
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