Virtual business’ opportunities and advantages for economy

Abstract

Objects: The principal goal of this article is to gather data about virtual business’ potential and distinguish its benefits for daily lives of people. Methods: SWOT-analysis that will correspond on identifying four main aspects of this phenomenon: its strengths, weaknesses, opportunities and threats in the long-term. Results: Virtual business seems to have many advantages compared to a regular one, as it is relatively cheaper to start, provides high efficiency and satisfaction of the workers. Nevertheless, it is clear that there are its own weaknesses such as lack of full trust between workers, scheduling conflicts and tough communication. There are many opportunities in this modern direction as getting work from a far-distanced locations and thus getting a wider choice of specialists in the company, also dealing with the unemployment issue in some countries. The main threats are loss of reputation, security and connection issues. Conclusions: Proposing a set of elements for the development of a business model for virtual enterprises is the trend of the world. We were able to identify some elements needed to define the business model of a virtual enterprise. Which can stimulate economic growth of developing countries.