Online business: 80% of Shanghai entrepreneurs optimistic

More than 80% of Shanghai entrepreneurs are optimistic about the prospects of online business, saying that "online shops" hold greater advantages over traditional shops. The results released on July 21 come from a survey by the Shanghai Municipal Party Committee Propaganda Department and the Shanghai Municipal Labor and Social Security Bureau, according to Xinhua Net.

The one-month survey solicited responses from more than 2,000 entrepreneurs in Shanghai. According to the survey, when asked whether online businesses have a certain advantage when compared with traditional retail outlets, 81.3 percent of the respondents believed that there are advantages, of which nearly 40 percent felt there are great advantages.

A large number of respondents believe that online business has an advantage of being relatively low cost and low risk. In addition, it does not need specialized venues, has fewer requirements and greater opportunities for individual preferences. Being free of time and space constraints are also optimal features.

The survey showed that entrepreneurs in general look forward to access to legal norms and the protection of "online business. From their perspective, respondents think that the greatest challenges to online business include legal protection (the first), followed by integrity, selections of goods, trading platform, network knowledge, payment methods, and taxes.