July 12, 2024


Savvy business masters

New Enterprise Singapore initiative to help SMEs break into e-commerce market

SINGAPORE: Small and medium enterprises (SMEs), who have little or no e-commerce experience, can start selling online through support from a new Enterprise Singapore initiative.

The E-Commerce Booster Package provides both cost and manpower support, Enterprise Singapore said in a news release on Thursday (Apr 2).

“This aims to help retailers change their business model, and diversify their sales channels and revenue streams beyond traditional brick-and-mortar. This is especially relevant amidst the current COVID-19 situation,” the agency said.

“Having a robust e-commerce strategy will also enable retailers to be more competitive in the long-term.”

READ: Commentary: There is more support for Singapore firms to go overseas. But some just don’t want to

The package provides support to retailers for domestic and overseas markets.

For the domestic market, retailers will receive assistance from four e-commerce platform providers – Amazon, Lazada Singapore, Qoo10 and Shopee. Sellers can apply with only one platform partner, with whom it has no existing account.

Retailers will receive a one-time 90 per cent support on qualifying costs for the fees charged, capped at S$9,000. The platform providers will work with sellers to curate and list products for up to six months, participate in promotion campaigns, fulfill orders and perform basic data analytics of sales.

Sellers eyeing overseas markets can make use of Enterprise Singapore’s ongoing Multichannel E-Commerce Platform (MEP) Programme. 

The one-time support of 70 per cent on qualifying costs is now enhanced to 90 per cent until Sep 30, 2020, and retailers will receive help from solution providers to list and sell products on multiple overseas e-marketplaces.  

READ: COVID-19: The impact on small Singaporean-owned businesses overseas

Through these partnerships, retailers can have a good-sized market to tap on, deputy chief executive officer of Enterprise Singapore Mr Ted Tan said.

“Our partnership with the established e-commerce platforms both in Singapore and overseas ensures a good-sized market for these retailers to tap on,” he said.

“We want to empower all retailers to develop long-term and sustainable e-commerce strategies that will ensure business resilience beyond COVID-19.”

In terms of manpower, Enterprise Singapore will support 90 per cent of the qualifying manpower cost for three months.

Retailers who wish to sign up for the package can do so directly with the respective e-commerce platforms and solution providers from now until Sep 30.

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