So, why have I chosen to write on this topic? Recently, I came across this word a lot of times at many blogs (e.g. xiaxue, bloglines.com/public/blogshop, etc). So feeling curious, I decide to google + yahoo the blogshop keyword and found many "blogs that sells stuff" being termed as
Blogshops as a collective whole.
This trend started not too long ago in early 2004, when I recalled the news talking about a group of girls selling their 2nd hand accessories online to gain extra revenue for other expenses. Thus, I can see that many of our singaporean or even global "
entrepreneur"-minded teenagers will follow the trend and lead to the current Blogshop scene today.
Selling things online in blogs like Blogshop is very similar to opening a push-cart shop in any shopping centres except that you are actually conducting your business transacations online with a potential
global audience instead of only the passer-bys who frequent the shopping centres that you are situated at.
Thus, this leads to a whole new idea of global capitalism. Imagine the amount of money flowing around the world during business transactioons made by Blogshops and how the governments cannot control it because
Blogshops has no boundaries, territory and it is simply virtual. Do note the fact that even if there is any country that can even conduct taxation on it, it would most likely be the country which hosted Google's Blogger.com servers. Thus, that's the only country that would potentially benefit from this new economy model.
Without registration of business and simply selling online, everyone
except the government stands to gain directly because Blogshop simply doesn't pay taxes, and guess what, most of them are teenagers who are not even of legal age to set up a company. Thus, this new model would most likely give them indeed more pocket money and less tax for the government.
Some may argue that the government actually tax the goods that are bring in/out of the country but let me ask you, does
online items has GST? or business revenue tax? no it doesn't.
Welcome to the
New Age Capitalism.
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