The Internet is a worldwide public access network, and it can, in theory, be used for anything for which a smaller network can be used. In fact, Internet technology is still fairly crude, and this limits what is possible. However, even the simple tools that it provides today can completely transform the way a business operates.

The Internet makes it possible for a smaller company to trade globally. Millions of people use the Internet every day, and their numbers are growing steadily. Nearly half of all US households now have a computer, and around 80 per cent of them use it for Internet access. As a result, trading online puts a business in touch with millions of potential customers, many of whom are more affluent and have more disposable income than the rest of the population.

The Internet can also be used to provide information to existing customers. Price lists, special offers and other information can be distributed electronically much more cheaply and conveniently than an equivalent mail shot. Information can also be placed in an electronic shop window where casual passers-by will see it, and perhaps respond with interest.

However, the Internet can also be used as a constantly updated library of facts and figures. Some of this information is only available for a small fee, but much of it is completely free. Many magazines now supply some or all of their back issues on the Internet, often with extra stories and background details that have never appeared in print. Similarly, many companies now have their own collections of useful information, including product details, contact addresses and price lists. In coming years, most of the new products and services will appear on the Internet, and the business world is likely to be transformed as a result. Any business that may be able to benefit from the Internet will be able to give itself a head start by looking into the possibilities immediately.