Amazon Singapore is also extending the waiver of professional selling account subscription, fees for new and existing sellers, until 30 June 2021
SINGAPORE- MediaOutReach - 28 January 2021 - (NASDAQ:AMZN) - Amazon announced today at the inaugural Amazon Southeast AsiaOnline Seller Summit 2021additional resources and support for small and medium-sized businesses (SMBs)in Singapore to start selling online and expand globally through its stores. Amazonannounced that it is extending the waiver of professional selling accountsubscription fees for new and existing sellers, until 30 June 2021. Thissupport builds on Amazon's current initiatives such as the online sellereducation series, Seller University, and over 225 free tools andservices to help sellers grow their sales in Amazon's stores in Singapore andworldwide.
Inaddition, Amazon is teaming up with Enterprise Singapore (ESG) to help localretailers scale globally. Enterprise Singapore will support these effortsthrough the Market Readiness Assistance (MRA) scheme. Support will be capped atS$100,000 per new country, includes support for up to 70% of eligible costs foroverseas promotion, overseas business development and overseas country set-up,and gives SMBs the flexibility to expand across new countries at theirpreferred pace. This is one of several measures which local enterprises can tapon through ESG to grow and diversify their businesses. More details can be found in ANNEX.
"Wewill double-down on efforts to support our local businesses in gaininge-commerce capabilities and maximizing their growth opportunities from thedigital economy. To help companies access customers in new countries, ESG hasalso been working with Amazon to onboard Singapore sellers to Amazon as achannel for international sales, such as in the US, Canada, and India. Supportis available for Singapore companies that are looking to expand to these countries,"said Minister for Trade and Industry, MrChan Chun Sing.
"Smallbusinesses are an essential part of Amazon's DNA. Through the Amazon SoutheastAsia Online Seller Summit 2021, we aim to enable more local sellers to reach aglobal audience through our 20 stores worldwide. Whether they are just gettingstarted or are an experienced seller, Amazon's comprehensive programs andnetwork will help SMBs overcome operational challenges to maximize growth opportunitiesglobally," said Henry Low, Country Manager, Amazon Singapore.
TheSoutheast Asia Online Seller Summit, being held today and tomorrow, has drawn over 3,000 participants who areinterested to understand how they can sell with Amazon, scale their businesses,and seize cross-border opportunities. Guest-of-Honour, Minister for Trade andIndustry, Mr Chan Chun Sing, leaders of Amazon Singapore, industry experts, andlocal business owners selling on Amazon.sg came together on Day 1 to discusslocal and regional retail trends and offer insights on how SMBs can 'StartLocal, Go Global' with Amazon.
Connectingsellers to exchange best practices
Aspart of the Summit, Amazon hosted a panel of SMB founders to share experiencesof growing their business online and their journey with Amazon. Through thesupport of Amazon's global network and its logistics and inventory solutionssuch as Fulfilment by Amazon (FBA), each of them has expanded to servecustomers globally -- all from the comfort and safety of their homes.
"WhenI started Rui Smiths in 2014, selecting Amazon as the e-commerce store for mybusiness was a no brainer. Amazon has been offering an unparalleled service thatperfectly fits my needs, since my initial days as a new business owner,allowing me to expand internationally from the get-go. In just 4 years, withAmazon, we had hit S$200,000 in sales and were already selling in the US, UK,and Australia," said Debbie Cai, founder, Rui Smiths. "I hope theinsights and resources shared at the Summit will help many local sellers likemyself grow their business not only in Singapore but also beyond shores forcustomers everywhere."
Localresources for sellers in Singapore to unleash and maximize global growthopportunities
Todate, Amazon has provided support to thousands of SMBs keen to sell online withAmazon.sg and its stores globally and continues to help many of them go digitaland build thriving businesses. To shine the spotlight on more local retailers,Amazon continues to promote a dedicated "Shop Local" storefront on Amazon.sg, featuringlocal brands' founding stories and a plethora of products in categories such ashome and home improvement, electronics, kitchen and dining, health and personalcare, toys and games, groceries and more.
Otherresources introduced include the Amazon Seller App for local sellers withaccounts on Amazon.sg to track sales and manage their business via mobile, theMarketplace Appstore, a one-stop shop to discover third-party applications andservices for automating tedious business aspects, and the Seller Forum, aresource for first-hand advice from fellow business owners on selling withAmazon. Sellers can also join the
Theseinitiatives are furthered by Amazon.sg's ongoing collaboration with InfocommMedia Development Authority (IMDA) for the Digital Resilience Bonus, offering eligibleSMBs a bonus of up to S$2,500 for selling on e-commerce channels like Amazon.The bonus is available to eligible local retailers until 30 June 2021.
To learn more aboutthe millions of small and medium-sized businesses growing with Amazon,visit: aboutamazon.com/supporting-small-businesses. More information about sellingon Amazon can be found here: https://www.amazon.sg/sell.
Annex: Empowering SMBs to Start Local, Go Global with the Market ReadinessAssistance (MRA) Scheme
SMBsselling on Amazon.sg may receive an international boost through EnterpriseSingapore's Market Readiness Assistance (MRA) scheme to partially offset thecosts of scaling their business overseas to new countries. Those eligible willreceive the following support:
- Up to 70% of eligible costs, capped at S$100,000per company per new country* from 1 April 2020 to 31 March 2023, that covers:
o OverseasPromotion (capped at S$20,000)
o OverseasBusiness Development (capped at S$50,000)
o OverseasSet-up (capped at S$30,000)
- Each application is limited to one activity in asingle overseas country (e.g. participation in a trade fair)
Tobe eligible, companies should meet the following criteria:
- Business entity is registered/incorporated inSingapore
- New country criteria, i.e. target overseascountry whereby the applicant has not exceeded S$100,000 in overseas sales ineach of the last three preceding years
- At least 30% local shareholding
- Group Annual Sales Turnover of not more thanS$100 million; OR Company's Group Employment Size of not more than 200employees
* Witheffect from 1 April 2020, a new country refers to a target overseas countrywhereby the applicant company has not exceeded S$100,000 in overseas sales ineach of the last three preceding years. The maximum support level is raised from 70% to 80% from 1 November 2020to 30 September 2021.
Interestedand eligible SMBs selling on Amazon.sg can apply for the Market ReadinessAssistance (MRA) scheme via Enterprise Singapore's website here. SMBs can also approach EnterpriseSingapore and Amazon for advisory support to develop theirinternationalisation business plans.
Tofurther equip Singapore SMBs with the capabilities to sell overseas via Amazon,Enterprise Singapore is in active discussions with Amazon on new trainingprogrammes which include listing optimisation, customer service, andinternational demand generation. More details will be announced later thisyear.
Amazon is guided by four principles: customer obsession rather thancompetitor focus, passion for invention, commitment to operational excellence,and long-term thinking. Customer reviews,personalized recommendations, Prime, Fulfillment by Amazon, AWS, and Kindle aresome of the products and services pioneered by Amazon. For more information,visit Amazon.sg.