The SMEs (Small and Medium-sized Enterprises) who may not have the capacity to invest in technology have received a great opportunity with the online platform launching its operations there.
The company will built the entire ecosystem for them- right from helping them develop their own unique web-store, listing them on marketplaces and social channels to assisting them with insights on how to sell online.
Commenting on the launch CEO and Founder Shopmatic Group, Anurag Avula said, “The size of the business opportunity in Singapore is huge. If we look at Singapore, SMEs take up 99 percent of all enterprises of this city-state. There is a significant base of untapped individual entrepreneurs.”
“We are looking at the market opportunity through three audience segments – existing SMEs that are selling their products but are not online, existing SMEs that are selling their products offline with a minimal presence online or selling through marketplaces and lastly, the big opportunity that sits with Individual entrepreneurs who are yet to realize the potential of doing business online. In addition, our business operation in the country will also mean we will be creating job opportunities for local talent,” added Anurag.
He also said that managing payments are one of the biggest challenges for SMEs and hence we have partnered with PayPal to enable cross-border trade for local business owners, making it easier for merchants to accept payments from customers outside Singapore.
We are also offering them an international e-commerce experience at a price point that is very affordable, at just USD 20 a month.
“Moreover, they also get free services for three additional months for sign up for our 12-month plan. On top of that, all our subscribers get the first month for a free trial period. We don’t charge any additional fees per sale made by the customer. Ours is a SaaS model and average operating costs will come down with our growth in customers,” added Avula.
Source: New Kerala.com