Businesses are using the Internet to go local.A new venture hopes to profit from producing private Internet sites for individual blocks of flats.The company, News On The Block already runs 680 sites, offering residents news, information and discussion groups.
The start-up is backed by twp PLC's and will have several revenue streams.Primarily, money will come from tradesmen advertising local services.It will also take a percentage of any e-commerce conducted through the site.The property management background of the company's founder, Harvey Shulman, also suggests a move towards selling surveys and conveyancing services online.
The idea is to build communities, and this is how it differs from other websites that provide local information.It's an ambitious plan, but there are incentives.Residents can discuss the spending of their block's shared maintenance costs without having to sit through dull resident's association meetings.They can also warn neighbours about cowboy plumbers and crime.There's an added financial bonus, 10 per cent of the site's revenue will go towards the building's service charge.
With an election looming, the concept is even attracting politicians."Robin Squire, MP, is interested in using the site to interact with his constituents, "says Marcus Richardson, new media and marketing manager at News On The Block.Residents will be able to post questions directly to their MP.
Business 2.0, 1 March 2001
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