Low-cost e-commerce platforms for your start-up

Setting up an e-commerce site for your start-up may help you reach more customers and sell more products and services than just opening a physical shop.

According to Statista, the UK will have nearly 60 million e-commerce users in 2023.

While online shopping may be rising in popularity with consumers, Lloyds Banking Group has found that only one in ten small businesses has moved online due to the pandemic.

It found that around half (49%) of smaller firms are missing out on increasing customer reach that going digital can offer.

A lack of skills and confidence in setting up a digital presence was reported as the main barrier to a business going online.

Setting up an e-commerce site can help your start-up reach more customers and increase sales.

And with only 12% of small businesses set up online, you may have less competition.

There are misconceptions about how expensive the process can be, but there are many low-cost or free solutions to help; you need to find the right e-commerce platform for your business.

What is an e-commerce platform?

An e-commerce platform is software that enables you to build an online store to take and fulfil orders.

It can control and manage e-commerce needs, such as:

• product pages
• transactions
• inventory
• customer support.

Setting up an e-commerce platform can help you manage your digital presence in one place.

It can remove the need for manually controlling stock and transactions, so you can have more time to spend in other business areas.

Key features to look for in an e-commerce platform

No e-commerce platform is a ‘one-size-fits-all’.

By determining your business needs you can find a platform that best suits your requirements.

Some features are essential, though, if you want the best out of the platform.

Key features to consider include:

• Functionality – an e-commerce site that isn’t user-friendly may potentially lose sales. Find a platform that you can customise, which is simple to use and navigate with features such as a search bar and product information boxes.
• Customer support − look for a platform that offers 24/7 support when launching your site. This feature can help you resolve issues without losing customers.
• Marketing tools – tools such as abandoned shopping basket reminders or email opt-ins can be beneficial for bringing customers back to the site.
• Site security − look for a secure e-commerce platform that protects your website and customer data. Platforms should have an SSL certificate, the protocol for encrypting Internet traffic and verifying server identity.
• Capability to grow − the ability to scale up or down is essential for business growth. The platform should also allow integration with other software so you can grow and scale your business.
• Payment options − your chosen e-commerce platform should support various payment options for greater flexibility with customer payments, such as credit cards or digital wallets.

Low-cost or free e-commerce platforms to consider

Looking for low-cost e-commerce platforms to get started? Here are five that may be suitable for your business.

Before signing up for an e-commerce platform, do your research to ensure it is suitable for your business.

The platforms listed below are not endorsed by the British Business Bank and may not be suitable for your business.

You should shop around when choosing the right platform for your business.

Shopify

Shopify is easy to use and can be customised without knowing about code or design.

It caters for worldwide selling, enabling you to increase your customer base.

It features:

• built-in marketing tools
• customer insights
• integrated sales channels, such as sales through eBay, Facebook, and Instagram
• mobile app features
• customer support options (available in 19 different languages).

The platform offers a 14-day free trial, and pricing starts at £25 per month for a basic plan.

There are plans suited to different business requirements.

Wix

Wix offers streamlined management of your e-commerce site and a selection of website templates you can customise with your branding.

It features:

• the ability to track and process purchases from a single dashboard
• detailed business insights
• an app allowing you to manage e-commerce from anywhere
• multi-channel inventory management
• built-in SEO and marketing tools
• over 50 payment gateways, including ‘buy now, pay later’ options.

Wix offers a free trial, but basic plans start at £7.50 per month with the option to add advanced features as your business grows.

WooCommerce

WooCommerce is a platform plug-in used on WordPress, which is a popular website-building tool.

It’s suitable for small businesses and caters for individuals wanting to use their blog for selling.

It’s customisable, allowing for a strong brand image.

It features:

• flexible and secure payment options (integrating with 140 region-specific gateways)
• an easy-to-use interface with dashboards for easy management
• automated tax calculations and live shipping rates
• marketing integrations
• an ability to sell across the globe with different currencies and languages.

It is a free plug-in, but you will have to pay for a hosting server.

It is also scalable and can handle unlimited amounts of products (as long as it doesn’t slow your website down).

Squarespace

Squarespace is a simple and easy-to-edit e-commerce site builder, allowing you to choose from templates to customise.

It allows businesses to sell their services, not just physical goods, with an online calendar for bookings.

It features:

• integration with social channels
• flexible shipping options and real-time shipping rates
• multiple payment methods
• mobile management from the app
• order and inventory management
• sales analytics.

The interface is suitable for small businesses and businesses selling subscriptions or digital content (like downloads).

Prices start at £17 per month with the ability to scale your business and additional e-commerce features for a higher cost.

Weebly

Weebly is a simple e-commerce website builder that allows your small business to grow.

With customisable themes, you can brand the site to suit your business without needing any expertise or lots of time.

It features:

• marketing tools, SEO and insights
• real-time shipping and shipping tools
• inventory management
• automatic tax calculator and easy checkout system
• product search and badges
• mobile and tablet app for management on the go.

Prices start from £9 per month with additional plans including advanced features for when your business starts to grow.