Informal businesses to enter formal channel
The DBID will have a positive impact on the e-commerce sector.
Customers' trust will increase especially on Facebook-based ones, when they (people) will find the businesses are registered with the government.
Trust is very important in such businesses. The unregistered businesses will fail to perform well as they can lose customers' faith.
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The majority of the F-commerce entrepreneurs have no registration. The DBID can ensure their identity and promote their brands.
Customers, obviously, are concerned about their money, so they want to buy products or services from valid entities.
Our Facebook-based entrepreneurs, to some extent, are struggling to prove their validity and provide security of their clients' money.
Many people also believe that Facebook-based businesses have no guarantee of continuing their existence.
The DBID will help address the issues. Besides, it will make a database of social media-based entrepreneurs.
With the government move, all the informal digital businesses are going to enter a formal channel, which is very good news.
The e-CAB has 1,650 members. Of them, only 6-7 got the digital business identification numbers on Sunday. The rest were Facebook-based pages or groups. We will encourage our members to be registered as early as possible.
Mohammad Sahab Uddin is the vice-president of e-Commerce Association of Bangladesh (e-CAB).
