E-commerce process
Proposed Site Name:
chalchini.com
nobabibazar.com
dhakabazar.com
kunuj.com অগাধ ধনভান্ডার (Note : available .com domain)
maariz.com উচ্চতার সোপান (Note: not available .com domain)
maganim.com গনিমতের সম্পদ (Note: available .com domain)
azwadandzawad.com ধনী অত্যন্ত দানশীল (Note: available .com domain)
maadin.com খনীজ সমূহ (Note: not available .com domain)
sanabil.com প্রচুর শষ্য (Note: not available .com domain)
mafatih.com সৌভাগ্যের চাবিকাঠি (Note: not available .com domain)
salwa.com আল্লাহর দান আসমানী খাবার (Note: not available .com domain)
Top E-Commerce Websites In Bangladesh
Daraz
Ajkerdeal
Pickaboo
Jadroo
Priyoshop
Banglashoopers
How to start an e commerce business in Bangladesh (step by step)?
- Select The Best Business Structure and Register Your Business legally in Bangladesh.
- Research Ecommerce Business Models.
- Start Ecommerce Niche Research.
- Validate Target Market and Product Ideas.
- Register Your Ecommerce Business & Brand Name.
- Finalize Your Ecommerce Business Plan.
- Create Your Online Store.
- Attract Customers To Your Ecommerce Website.
Process of Starting an E-commerce business in Bangladesh
The procedure required to start an E-commerce company in this country depends entirely on the nature of the business itself.
- Individual businesses: If your online company is all about the Customer to Consumer ( C2C) model and you just want to trade with someone over the internet, then you don’t need a lot of formality. At the other hand, if you sell any goods or services actively through a website or page and you are the sole owner of the said company, then you will need a valid trade license and proper E-TIN set-up.
- Companies or Associations: If your favoured business model is Business to Customer (B2C), where you want to set up a company or association to sell your goods or services, the laws currently in force in Bangladesh regarding companies, partnerships or associations etc. will be applicable to you to set up your e-commerce business in Bangladesh.
- Domain & intellectual properties: Another important step of setting yourself up in the E-economy is to purchase a domain name. Being prepared with a valid domain, trademarks, copyrights etc. will be instrumental in securing your intellectual properties among other things.
- A typical Bangladesh online business: A typical Bangladesh online business starts with the development of a website or a public page in an asocial media network. The items or services to be sold are then catalogued on the Customers’ website or page on browse through. The final aspect of this initial phase is incorporating a safe form of payment, and there are quite a few good choices to choose from in your own e-commerce business in Bangladesh.
- Payment methods: Most online stores have a cash-on – delivery system which, of course, needs no digital payment method. At the other end of the spectrum, a large chunk of all mobile banking in this country is currently being done via services such as Bkash, Rocket, Nexus Pay etc., but you do have the option of accepting other services such as the various credit or debit cards, PayPal, Money Gram or any other FIN Tech (Financial Technology) methods. The trick is to go for something that’s easily available and that has the most users. Hence:
Setting up a payment gateway system in Bangladesh requires few papers/documents:
- Company Trade License
- Owner’s NID & Photograph
- Bank Details
- Company Logo
- Website URL
- Signature & Seal
As of now, the Bangladesh Bank has allowed funds to be transferred up to BDT 5,00,000 between two customers who have accounts on the same bank via online facilities, provided that the transactions comply with the prevailing Money Laundering Prevention laws and related government circulars.
Nevertheless, in the case of any legal issue emerging from these projects, it is often prudent to obtain professional assistance. According to the laws currently in effect in Bangladesh, e-economy participants are entitled to various legal remedies with the least amount of difficulty. The article would also address the prospective risks of operating E-commerce companies.
Potential Legal regulations in regards to starting an e-commerce in Bangladesh
Consumer Protection legislation is important in e-commerce business in Bangladesh to create consumer trust. In merchant’s bank account, a holding fund mechanism listed in the ‘E- Payment’ section might be established; consumers do need to use true identification for the purposes of the transaction.
Privacy of consumer’s communication, preference, visit information, personal and financial data must be maintained by the relevant merchant. There has to be a clear definition of what form of communication, intention or promise between merchant and consumer will be counted as service agreement; violation of which would face legal consequences in the justice system.
Community Conscious Driven Policy needs to be established in the e-commerce business in Bangladesh. The socio-economic scenario differs from country to country. Expectation from businesses and consumers need to weight in our existing standard.
Code of Conduct for the businesses and customers need to be defined. Any form of digital communication must not violate traditional social and business etiquette within the e-commerce business in Bangladesh.
Dispute Resolution Mechanism should be clearly stated and communicated properly to the stakeholders. A cyber court might just be established for quick resolution of such cases specifically for e-commerce businesses in Bangladesh.
- ICT Act is undergoing revision. As the cyber world evolves very rapidly, a legal committee will eventually be set up to review the law and make appropriate changes every six months.
- Most e-commerce operations incorporate a variety of digital activities and conventional business processes. ICT Act will ensure compliance with current legislation and ecommerce regulations is sufficient.
- Though e-commerce ensures easy access to entrepreneurship, some form of regulations will eventually be imposed for the new entrants for identification, authentication, taxation and monitoring purpose. Easy registration process using e-tin, address, etc will eventually be incorporated to ensure the transactions under a legal umbrella.
- Insurance policy might also be formulated to protect businesses and consumers from larger accident and fraud incidents.
What is E-commerce business in Bangladesh?
E-commerce includes the purchasing and sale of products and services by businesses and customers via the electronic medium. E-commerce, also known as electronic commerce or internet commerce, refers to the purchasing and sale of goods or services through the Internet, and the transfer of money and data to carry out these transactions.
How many e-commerce business are there in Bangladesh?
The eCommerce Association of Bangladesh (e-Cab), an eCommerce trading organization in Bangladesh, reports that there are 700 eCommerce sites and about 8,000 eCommerce pages on Facebook. Facebook remains a common method of advertising and selling goods, to the point that many companies forgo the production of websites.
What are e-commerce companies?
Amazon, Alibab and e-bay probably the most influential e-commerce business in the world. Our neighboring country have flipkart, which is an Indian based eCommerce web portal founded by Sachin Bansal and Binny Bansal in 2007. In Bangladesh currently we have Daraz and E-valy dictating the e-commerce market.
What are the 5 types of e-commerce?
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Consumer-to-Business (C2B)
- Business-to-Administration (B2A)
- Consumer-to-Administration (C2A)
What is the best e-commerce company in Bangladesh?
Daraz is considered to be one of the best e-commerce companies in Bangladesh. As one of the most innovative and successful online stores in Bangladesh, Daraz.com.bd offers a wide range of products, including electronics , apparel, home appliances, children’s goods , furniture, beauty and health, and much more.
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