the acceleration of e-Commerce within the European Union as a major objective in the immediate future. It is envisaged that the onset of e-Commerce will have significant effects on individual businesses and will result in an aggregate impact on the national economy and, as a result, on society. e-Commerce is not limited the national economy. The key feature of eCommerce is its ability to transcend national and geographical boundaries. The challenge is for local businesses to retain their domestic markets in the face of external e-Commerce competition, while at the same time gaining a foothold internationally by marketing and selling via e-Commerce. The risks and opportunities to local business emanating from new e-Commerce scenario will vary by business sector and target market, and entrepreneurial drive. Overall, it is reasonable to assume that unless e-Commerce solutions are taken up by local business, the local economy will be at a disadvantage in the face of external e-Commerce competition. This disadvantage will increase over time as external e-Commerce continues to increase. The need for Grenada businesses to maintain the pace with overseas competition is therefore paramount. Another important feature that characterizes e-Commerce is the gains to be had from the streamlining of business processes for higher efficiency and cost effectiveness. In general, business should gain from the transition to e-Commerce via the following positive effects: o A general increase in productivity. o A more streamlined interface between production and sales. o Better stock management, potentially leading to 'just in time' stock management. A STRATEGY AND ACTION PLAN FOR GRENADA Anurag Sinha 51