Starting an online store in 2024 is an exciting venture that can bring great rewards. This guide will walk you through the essential steps to get your online store up and running. Follow these steps to ensure a smooth launch and a successful business.

TIPS 1:  Domain & Hosting Registration

The first step in setting up your online store is to secure your digital real estate. You’ll need a hosting service and a domain name.

Choosing a Hosting Service:

• Look for a reliable hosting provider that offers excellent uptime, fast loading speeds, and good customer support. Popular choices include Bluehost, SiteGround, and HostGator – special promotion for first year subscription starting from 2.99 €/mo .
• Consider the type of hosting you need. Shared hosting is budget-friendly for beginners, while VPS or dedicated hosting provides more resources for growing stores.

Registering a Domain Name:

• Your domain name should be unique, memorable, and reflective of your brand. It’s the address where customers will find your store online.
• Use domain registrars like GoDaddy, Namecheap, or Google Domains to check availability and purchase your domain.
• Aim for a .com extension, but consider other TLDs (Top Level Domains) like .shop, .store, or country-specific options.

Maybe .shop domain for your online store?

The .shop domain extension started in 2016, after being proposed in 2012 when new domain extensions were opened for applications.  Since then, .shop has become very popular among e-commerce sites. As of October 2023, there are over 2.1 million registered .shop domains, making up over 6% of all domain name registrations. An example of a business using a .shop domain is netflix.shop.

TIPS 2:  Launch AI Tools to sell more

Choosing a suitable CRM is essential to efficiently manage current orders. Additionally, installing a web-based chat system such as Tidio or Crisp can help you promptly answer customer questions.

TimelinesAI offers comprehensive WhatsApp management for businesses using multiple individual numbers. With one-click integrations, you can seamlessly connect WhatsApp with your CRM, enhancing control over your communications. The platform provides a multi-number shared inbox, ensuring complete visibility across all your WhatsApp interactions. Additionally, TimelinesAI supports performance enhancements through Zapier, Webhooks, and bulk sending features.

TIPS 3: Trademark Registration

Securing a trademark for your brand name and logo is a crucial step in protecting your business. It ensures that your brand is legally recognized and protected from infringement.

Why Register a Trademark:

• It gives you exclusive rights to use your brand name and logo.
• It enhances your brand’s credibility and value.
• It helps in legal protection against unauthorized use of your brand.

How to Register a Trademark:

• Conduct a trademark search to ensure your brand name and logo are unique (choose a wordmark or a figurative mark)
• File a trademark application with the relevant government authority in your country. This process may vary depending on your location.
• Consider consulting with a legal expert to navigate the complexities of trademark registration.

The SME FUND 2024 Program has already started, and applications are open from January 22, 2024, to December 6, 2024.  This initiative brings a lot of incentives to your business.

Main benefit:

If you register a trademark for your online shop, you can get 75% of the registration fees paid back to the EUIPO for registration.

TIPS 4: Choose a Suitable Platform

Selecting the right e-commerce platform is vital for the success of your online store. The platform you choose will influence the functionality, scalability, and ease of use of your store.

Popular E-commerce Platforms:

• WooCommerce: Ideal for WordPress users, offering extensive customization options.
• Shopify: User-friendly with a wide range of apps and themes, suitable for beginners.
• BigCommerce: Scalable and feature-rich, perfect for growing businesses.
• Magento: Highly flexible but requires advanced technical skills, best for large enterprises.

Once you choose a suitable platform, don’t forget about content strategy for online stores . 

You can do it myself or hire a person with experience using platforms like Fiver or find a professional media agency like RekinySukcesu.pl .

Factors to Consider:

• Cost and pricing plans.
• Ease of use and customization options.
• Integration with payment gateways and other third-party tools.
• Customer support and community resources.

TIPS 5:  Register a company and Pay 0% Tax!

Estonia offers a highly favorable environment for starting a business. With its advanced digital infrastructure and entrepreneur-friendly policies, it’s an excellent choice for setting up your company.

Tax Advantages of Estonia:

• 0% tax on retained and reinvested profits: This allows you to reinvest your earnings back into your business without immediate tax implications.
• 14-20% tax rate on distributed profits: This lower tax rate applies only when you distribute profits, making it advantageous for growth-focused businesses.
• 98% of taxes are declared electronically: Estonia’s digital tax system is efficient and user-friendly.
• 3 minutes to file a personal tax declaration: The simplicity of the tax filing process saves time and reduces administrative burdens.

What is e-Residency?

• e-Residency: Estonia’s e-Residency program allows entrepreneurs from anywhere in the world to establish and manage an EU-based company entirely online.
• Managing Your Company with e-Residency: As an e-resident, you can access Estonia’s digital services, sign documents electronically, and conduct business from anywhere in the world. This program is especially beneficial for digital nomads and international entrepreneurs.
• e-Residency in Numbers:
  • Over 115,200 people have become e-residents of Estonia.
  • E-residents have established more than 31,000 Estonian companies.

Steps to Start Your Company in Estonia:

1. Apply for e-Residency: Submit an online application, and once approved, you can collect your e-Residency card from an Estonian embassy or consulate.
2. Register Your Company: Use your e-Residency card to register your company online through the Estonian Business Register.
3. Open a Bank Account: While this can be done remotely, you might need to visit Estonia or use one of the partner fintech companies offering borderless banking solutions.
4. Set Up Accounting Software: Choose a reliable accounting software to manage your finances and comply with Estonian tax regulations.

By following these steps and leveraging Estonia’s favorable business environment, you can efficiently set up and manage your online store, ensuring a strong foundation for growth and success.

Paweł Krok

Board Member at Eesti Consulting OÜ

Pawel Krok is a board member at Eesti Consulting OÜ, a consulting company that focuses specifically on company registration in Estonia. He helps entrepreneurs with first steps on the Estonian Market. He was an expert in the World Bank’s Business Ready 2023 Project.