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Advancing Rural e-Commerce

Advancing Rural e-Commerce. Jean Plymale Virginia Tech eCorridors Program www.ecorridors.vt.edu April 18, 2005. e-Commerce?.

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Advancing Rural e-Commerce

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  1. Advancing Rural e-Commerce Jean Plymale Virginia Tech eCorridors Program www.ecorridors.vt.edu April 18, 2005

  2. e-Commerce? • Electronic commerce. Often referred to as simply e-commerce, business that is conducted over the Internet using any of the applications that rely on the Internet, such as e-mail, instant messaging, shopping carts, Web services, UDDI, FTP, and EDI, among others. Electronic commerce can be between two businesses transmitting funds, goods, services and/or data or between a business and a customer. http://e-comm.webopedia.com/TERM/e/electronic_commerce.html • Electric commerce: the conducting of business communication and transactions over networks and through computers. Specifically, ecommerce is the buying and selling of goods and services, and the transfer of funds, through digital communications.www.wda.org/Public/help/glossary.htm • The process of selling products or services via the Web.advertise.sympatico.msn.ca/Glossary/ • Internet facilitated commerce, using electronic means for promoting, selling, distributing, and servicing products.www.stile.coventry.ac.uk/cbs/staff/beech/BOTM/Glossary.htm • Electronic commerce or e-commerce consists of the buying, selling, marketing, and servicing of products or services over computer networks. The information technology industry might see it as an electronic business application aimed at commercial transactions. en.wikipedia.org/wiki/ECommerce

  3. Why Focus on Small Business? • Small businesses represent the economic heart of a community • Strategic assets to our national economy • Essential to recovering our global competitive edge. Made in America! • Play a key role in the process of technological change (innovation) • Can effect the process by which local industry evolves • Key factor for growth and sustainability for most communities. • The presence a large number of small firms is indicative of an abundance of entrepreneurial talent • Entrepreneurial talent can change the direction of the local economy Sources: Acs, Zoltan J., Audretsch, David B.1990. Innovation and Small Firms. Cambridge MA: The MIT Press Birch, David L. 1987. Job Creation in America. New York, NY: The Free Press

  4. Advancing e-Commerce Capabilities • Affordable, always-on (non-dialup) high speed Internet connections • Sufficient, symmetrical bandwidth per user, to support the full range of emerging, converged data, voice, and video applications • Scalable bandwidth options • Free access in public spaces can generate business for indoor spaces • Training programs to provide current business the opportunity to learn about and try new business practices • Entrepreneurial training programs to encourages a new generation of people interested in new business development

  5. e-Commerce in ActionExamples from Blacksburg Va. Keith Roberts owner of Vintage Cellar http://www.vintagecellar.com High Speed Ethernet Available www.chasemanagement.com

  6. From Dorm to Success • Sells thousands of products – No inventory! • Each week the Bowl Championship Series (BCS) relies on Massey ratings for college football rankings Willie Jester, CEO www.buycollegestuff.com Kenneth Massey, developer of Massey Rating System www.masseyratings.com

  7. Dependent on High Speed http://www.nanocom.com/ “…providing affordable, cross-platform video chat and conferencing software... “Our videoconferencing business depends on high speed, broadband access.” http://www.exemplum.com/ “Interactive product demonstrations provide new ways to deliver product information…” “Without high speed network access, we wouldn’t be here.” nanoCom founder and President, Bob Summers

  8. Regional Advantage • >3000 small businesses in the Danville MSA (VEC) • Highly developed work ethic • So many small firms offer area residents hope for employment outside the traditional options • Small firms can potentially be the mechanism for job growth in the area if the region can foster the right environment including quality, affordable IT options • Small businesses in the area stand to benefit from sound, innovative IT policies and infrastructure

  9. e-Commerce Transition and Tradition • The Dan River Region is highly dependent upon the economic well-being of dominant industries; Tobacco, Textiles, and Tires. • e-Commerce should enhance the existing economy while adding new opportunities for diversification.

  10. Important Considerations • Do rural areas have the technological infrastructure in place to facilitate e-commerce activities? • Do local governments understand that e-commerce can play a vital role in making the global marketplace available to local firms? • Do economic developers have the knowledge and educational resources needed to provide support? • Do rural small businesses understand how e-commerce can be utilized to improve business activities?

  11. Questions and/or Comments? vplymale@vt.edu 540-231-2270

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