In an exciting move to support the growth and expansion of local micro, small and medium enterprises (MSMEs), Amazon Global Selling has announced a strategic collaboration with Enterprise Singapore (EnterpriseSG) and the Singapore Business Federation (SBF). The venture will introduce the ‘Amazon Global Selling Singapore Cross-border Brand Launchpad’ program.
Aimed at empowering over 100 Singapore-based MSMEs, this program will provide an impetus for local brands to launch and scale their operations, and open up a gateway to export opportunities in the massive United States market. The participants will receive two years of tailored account management support and resources.
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To bolster their success, the program offers support in critical areas such as business growth advisory, optimization of marketing and analytics tools, and guidance on meeting product standards certifications in alignment with local regulations.
“Cross-border e-commerce is becoming increasingly crucial for the success of MSMEs. To fuel their long-term growth, we recognize the significance of local collaborations and local support,” highlighted Anand Palit, Head of Amazon Global Selling, Southeast Asia.
The program goes beyond the short-term by aiming to foster a culture of long-term knowledge collaboration. About 300 Singapore companies are set to gain from a dedicated e-commerce learning series. This series will cover topics like solving common global e-commerce challenges and mastering digital brand-building skills.
In light of the initiative, Soh Leng Wan, Assistant Chief Executive Officer of EnterpriseSG, said, “To strengthen their competitive edge, businesses must equip themselves with the capabilities to explore new markets and adopt differentiated go-to-market strategies.”
Wan underscored the potential of the US market, which offers substantial opportunities for Singapore businesses. Presently, independent MSMEs constitute 60% of Amazon’s store sales. Singapore sellers have registered double-digit YoY growth on Amazon’s global sites.
Kok Ping Soon, CEO of SBF, voiced his optimism on the partnership, stating that it would help Singapore businesses develop the necessary know-how to penetrate the diverse and potentially lucrative US consumer market.
In another collaborative effort, Singapore’s Infocomm Media Development Authority (IMDA) recently joined hands with Amazon Web Services (AWS) to launch the first Joint Innovation Centre (JIC) in Southeast Asia. The JIC aims to boost industry innovation and support promising start-ups’ growth.
This news was first reported by Marketing Interactive.
