Boosting Cross-Border E-commerce for SMEs
Alibaba.com, a leading global B2B platform for trade, has signed a Memorandum of Intent (MOI) with Singapore’s Infocomm Media Development Authority (IMDA) and Enterprise Singapore (EnterpriseSG) to support the growth of small and medium-sized enterprises (SMEs) in Singapore. The collaboration aims to enhance the international connectivity of Singaporean SMEs and strengthen their cross-border e-commerce capabilities.
Under the partnership, Alibaba.com will work closely with IMDA and EnterpriseSG to increase the exposure of Singaporean SMEs on its platform. This will involve the creation of a dedicated Singapore pavilion on Alibaba.com and showcasing SMEs and their products prominently on the platform’s homepage. These initiatives will provide greater visibility and more opportunities for Singaporean exporters to access the global market.
As part of the collaboration, Alibaba.com has developed the Go Global programme in partnership with IMDA and EnterpriseSG. The programme offers curated packages designed to facilitate B2B trade opportunities for SMEs. Participating SMEs will receive priority placements on the platform, specialized digital marketing tools, platform analytics, and dedicated consultancy and advisory services. They will also have access to the Alibaba.com Seller Training E-course, which offers monthly training sessions on various topics related to account set-up, business analytics, and site design optimization. Eligible SMEs can receive up to 70 per cent funding support to join the Go Global programme.
“We are thrilled to witness IMDA and EnterpriseSG’s commitment to fostering a digital environment that supports the growth of Singaporean businesses. This aligns with our mission of providing SMEs with the necessary tools and market reach to thrive in the digital age. Singaporean businesses are known for their professionalism, skill, and agility, and through this collaboration, we aim to reach a broader range of SMEs to help them scale their businesses through e-commerce,” said Roger Luo, Head of Southeast Asia, Alibaba.com.
IMDA and EnterpriseSG emphasize the importance of digitalization and international expansion for SMEs in Singapore. They believe that by leveraging digital platforms and tapping into cross-border e-commerce opportunities, SMEs can expand their presence beyond Singapore’s borders and accelerate their growth.
Alibaba.com organized an offline event in Singapore, bringing together key stakeholders, Singaporean SMEs already on the Alibaba.com platform, and SMEs interested in exploring B2B e-commerce. The event aimed to provide insights into the latest e-commerce trends, emerging categories, and strategies for B2B companies to cater to the increasingly digital-native consumer audience.
One Singaporean SME, Dashmesh Pte Ltd., a specialty food distributor, has experienced significant benefits from utilizing Alibaba.com’s comprehensive packages. “During the pandemic, we transformed our traditional export business model to an online model, and as a result, our revenue grew by 19 per cent from new customers who found us online through Alibaba.com. Since joining the platform, we have received inquiries from 47 countries globally, including new countries we had not previously exported to,” said Praveen S/O Paramavisan, E-commerce Asst. Export Manager of Dashmesh.
The collaboration between Alibaba.com, IMDA, and EnterpriseSG aims to empower Singaporean SMEs to seize the opportunities presented by cross-border e-commerce and expand their businesses globally. By leveraging Alibaba.com’s platform and support services, Singaporean SMEs can enhance their competitiveness and thrive in the digital economy.