16 Ecommerce Expenses & How To Reduce Them - FreeCashFlow.io

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Ecommerce Bookkeeping Services
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16 Ecommerce Expenses How To Reduce Them

• When deciding on an ecommerce website, you need
  to think about the actual ecommerce expenses and
  what your business needs.
• If we know now how much we will ultimately spend
  for our solution itll be easier not only in this
  decision but down the road when purchasing
  add-ons or making changes that require more money
  spent if theyre available at all

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• Its easy to get distracted by all the different
  design and feature options when you begin
  shopping around for ecommerce developers.
• This is why its important first, before even
  looking at any solutions with their list of
  custom needs-to have a clear idea as far as your
  budget goes so they can tailor fit those project
  specifications accordingly.

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• So what do we need?
• What features would be nice additions or
  modifications from other platforms out there in
  case this doesnt work perfectly right off bat.
• There are 16 ecommerce expenses to consider,
  followed by a discussion of how to reduce them.

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Inventory management

• Your inventory will decrease as a result of doing
  business. Inventory reduction occurs when items
  are lost to damage, theft, misplacement, and
  other problems before they reach the consumer.
• Investing in inventory management system that
  tracks your goods from origin to a customers
  doorstep is an expense to consider, but it does
  not eliminate the problem entirely.  

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Marketing and advertising campaigns

• Whether its in-house marketing or outsourced,
  the expense of this is usually an ongoing
  ecommerce expense.
• Marketing and advertising are crucial to the
  success of any company, but they can end up
  costing you more than expected.

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Ecommerce Taxes

• Ecommerce taxes are primarily concerned with how
  your online business is taxed.
• Youll need to pay your federal and state income
  taxes on whatever you earn as a small store.
• You may want to hire a CPA to help you understand
  whether or not you have to collect and submit
  sales tax (different states have different rules
  for collecting out-of-state sales tax).
• Youll need to register for the state sales tax
  if youre in business in that state. If not, then
  your customers will be responsible for paying
  their own local taxes.

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Cybersecurity

• More than 60 of small businesses have been the
  victim of a cyber assault, such as malware
  infection or hacking, according to recent
  research.
• Thats because small e-store are more prone to
  vulnerabilities that are easier for cyber
  criminals to expose and exploit.
• The ecommerce expense of being hacked may be
  devastating, therefore ecommerce stores should
  invest in additional security precautions beyond
  what ecommerce platforms provide, such as a
  firewall, encryption, and training employees (and
  themselves) in best practices.

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