| Until Business to Business (B2B) portals came into | | | | extensively. In North America and Europe, B2Bs are |
| existence there was not any viable tool to connect | | | | the most sought after international trading tool for |
| the internet and international trade. That was a time | | | | doing business regardless of size. In emerging |
| when internet penetrated into all the areas except | | | | economies like China and India, the idea of doing |
| international trade. During that time, in the absence of | | | | business using B2Bs is gradually catching up and most |
| B2Bs a trader to go beyond one's domestic trade | | | | of the leading B2Bs are providing services that suit |
| was very expensive, therefore one retracted from | | | | these economies. The interest shown by large |
| the idea of making the cross over to international | | | | business houses have boosted the morale of the |
| trade. Initially, traders imagined that the B2Bs are | | | | B2Bs to bring out innovative features along with |
| solely for international sellers or exporters, but as the | | | | greater business opportunities. |
| B2Bs unveiled innovative features; they attracted all | | | | Since every country has laid emphasis on hundred |
| and sundry, including importers, transporters, brokers | | | | percent internet connectivity, any trader can do |
| and service providers. | | | | business from anywhere in the world through B2Bs. |
| It is hard to find an exact definition for a B2B portal | | | | Prior to B2Bs, the small time traders were imprisoned |
| since it provides solution for advertising, finds valuable | | | | to their markets since their presence was vital to |
| information to do business, allows businesses to | | | | their businesses. Unfortunately, even for leisure, |
| interact with one another, provides database of | | | | these traders have to wait for off season or a lean |
| international traders, etc. Since B2Bs are with multiple | | | | patch. However, B2Bs empowered the small and |
| functions, it enables every trader irrespective of size | | | | medium enterprises to do business with consummate |
| or region to do business in a cost effective manner. | | | | ease. The low cost and speed of doing business with |
| Majority of the leading B2Bs provide free | | | | anybody in the world has silently brought out a |
| membership where one can post information about | | | | cultural revolution of sorts to the traders from |
| one's company, which could be visible to members of | | | | different countries. |
| that particular portal around the globe. The premium | | | | B2Bs have done, what any amount of |
| membership of these portals helps the trader to | | | | advertisements could not do, by giving an |
| increase the visibility of one's company and to use | | | | opportunity to the traders to further be aware of |
| various other features included to enhance business. | | | | products or/and services which could be suitable to |
| As a matter of fact, the very concept of B2B is to | | | | their businesses. B2C (Business to Consumer) portals |
| encourage and empower small and medium | | | | too were able to do the same but they were |
| businesses to conquer the areas they were not able | | | | confined to regions and not able to do justice to far |
| to traverse hitherto. Besides, it helps to do so | | | | away places cost effectively. Nevertheless, B2Bs |
| without investing a lot of money and time. | | | | provided services cost effectively by overcoming |
| Interestingly, even multi-national companies which | | | | international trade barriers and through economies of |
| have the global reach with offices or/and factories | | | | scale. |
| also begun to utilize the services of these portals | | | | |