Lately I have been getting many requests from people interested in starting online businesses. In this article we will discuss what an online business is and the basic steps for getting started.An online/internet business is in most regards no different than any other business. It must have a sound basis for operation both in terms of a business/operational plan and financial model. Following are ten things to consider when starting your online business:1. Start with a good business plan — your business plan is the tool that allows you to state exactly what you are doing, how you will do it and what you need to get it done.2. Familiarise yourself with the internet and more specifically, the industry in which you are entering (i.e., online retail or selling services).3. Register your domain name — a domain name is a unique address that identifies the owners address on the internet. Consider this your intellectual property just like a patent or trademark. This will be very important as this name will be how your future customers locate you, so put some thought into this.4. Decide whether you will be a .com or .bm or both. Currently there is no fee to register .bm domain name; however, you must be able to prove that you have a legal business prior to registering (a letter from the Tax Commissioners Office or a Peddlers License number may be sufficient proof). For full details on registering a .bm contact the Bermuda NIC at www.bermudnic.bm. If you are registering a .com, there is no requirement to be a company, but you will have to pay for your domain name. Some popular domain name registrars include:— Namecheap.com— Godaddy.com— 1and1.com5. Identify a company to host the website — these companies rent you space on their server for your website and in many cases also provide domain name registration services.6. Design your site — there are many tools/software available online that you can use to help you design your website, like joomla.org or drupal.org. Alternatively you can hire a web designer to help you create your site. If hiring a designer, be sure to already have an idea of what you want. Develop a web plan by researching other websites that you think you would like and do your best to identify how you want the layout of your website to look. Also, ensure that you retain all intellectual property rights to your website and include this into your contract.7. Consider internet speeds — keep the site simple. Remember the days of Flash websites, with the dancing images and coinciding music? Well those days, while not so long ago, are over. Many web developers, I have spoken to suggest that Flash is not the best product to use when designing most sites, primarily because it is too complicated. Not everyone will have the speed necessary to view your website if using Flash and some mobile devices, like iPads, do not work with Flash. You do not want to limit accessibility to your website, so keep it simple and clean.8. Consider eCommerce — How will you be accepting payments? In Bermuda, you can speak with your local bank to discuss establishing a merchant account and/or a shopping cart on your website to facilitate accepting online payments.9. Determine product delivery — will you be arranging for delivery of goods purchased? Will you use a fulfillment centre if selling goods to international jurisdictions?10. Drive traffic to your site — once your site is built, it is imperative that you drive traffic to the site. You do this by ensuring that your website appears high on the list of the most frequently used search engines, like Google, and Yahoo. Market your website, using all available resources including online ads, social media, print media, your company collateral material, etc.Some further considerations when starting your online business in Bermuda include:The Electronic Transactions Act (ETA)— All Bermuda online business must have regard for The Standard— Non adherence could affect your reputation— Visit www.bermudalaws.bm to review the ETATax — will you be selling goods to overseas jurisdictions? Be aware of the tax requirements in those jurisdictions.Website legalities (include any disclosures, copyright statements and terms and conditions).For more information on starting an online business check out www.eMonday.bm to sign up for free workshops.Business Buzz is a monthly column presented by the Bermuda Economic Development Corporation. Every month, read about entrepreneurship, obtain business management tips, and find out what’s going on in the small business sector.Jamillah Lodge is a Business Development Officer for Bermuda Economic Development Corporation. She specialises in providing aspiring and existing entrepreneurs with business development advice and loan guarantee assistance. In addition, she manages the marketing and communications plan for the Corporation and oversees the development of a mentorship and youth entrepreneurship programme. She has a degree in Business Administration with a concentration in Marketing. The opinions expressed in this article are those of the writer and should serve a general guide and should not be considered as replacement advice from a lawyer, accountant or other professional service provider. Readers should consult with the appropriate professionals as necessary.If you have questions about starting a business in Bermuda, just ask BEDC: Email info@bsbdc.bm or call 292-5570.