Oct
10
AbleCommerce is now entering its 18th year in business, having survived both the dot.com crash of 2000 and the bursting of the housing bubble in 2008. We are now at a point where we seem to be heading into even more uncertain times.
With over 400 shopping cart solutions on the market, we’re certain to see this consolidate in the coming months as the credit market for small business evaporates further. This is aggravated by the fact that the credit card processors are becoming more aggressive in enforcing PCI-Certification at the merchant level. Given the high cost, in both terms of time and money to get an application VISA/PCI certified, many lower-tier shopping carts are going to be squeezed out of the market.
We’ve seen two of our primary competitors acquired in as many years. One to be completely phased out in a bankruptcy liquidation, and the other being picked up by a firm with no experience in developing commercial software applications.
In every down turn in history, there will always be an upside for creative entrepreneurs to identify new market needs. So, while some business models will be hurt, the online ecommerce space can be a low risk venture to those needing additional monthly income or a completely new career.
Did you know that 70% of all new jobs in the United States are being created by small businesses? When the recovery begins, it will be built upon the efforts of small business owners!
While others are panicking, I’d like to suggest that you step back and look at this as an opportunity in disguise without fear. You may not come up with the next Google in your brainstorming, but perhaps you might come up with something that will provide for your family.
We sincerely wish you the best in these troubled times, and should you find yourself in the market for a shopping cart platform, we hope you consider AbleCommerce knowing we’ll be around when you need us.
