Enterprise Singapore (ESG), a government agency supporting business development and helping companies innovate and internationalise, has unveiled its so-called E-Commerce Booster Package to help small and medium-sized retailers diversify into e-commerce to boost their revenues.
The E-Commerce Booster Package is aimed at supporting retailers to stay nimble and competitive in times of uncertainty by diversifying their business and going online. The Package, which ESG unveiled on 2 April, will support local retailers to bring their business online and diversify their sales channels and revenue streams beyond traditional brick-and-mortar.
The Package includes E-commerce for the domestic market, a service made possible in partnership with Amazon, Lazada Singapore, Qoo10, and Shopee. The Singapore E-Commerce Programme will support retailers to expand their presence on the domestic market.
The ‘E-commerce for overseas markets’ service will help retailers aiming to expand overseas. Such firms can apply for the Multichannel E-Commerce Platform (MEP) Programme.
As part of the E-Commerce Booster Package, Enterprise Singapore is also offering additional manpower support. ESG will support 90 percent of the qualifying manpower cost for three manpower for three months.
Companies eligible for the E-Commerce Booster Package are those registered or incorporated in Singapore, with a minimum of 30 percent local shareholding, up to 200 employees, and up to S$100 million (US$70 million / £56 million) annual turnover.
“The E-Commerce Booster Package primarily helps retailers with little e-commerce knowledge and capabilities to start using online channels,” Ted Tan, Deputy Chief Executive Officer of Enterprise Singapore, said in a statement.
“Our partnership with the established e-commerce platforms both in Singapore and overseas ensures a good-sized market for these retailers to tap on. We want to empower all retailers to develop long-term and sustainable e-commerce strategies that will ensure business resilience beyond COVID-19,” Mr Tan noted.