Looking to start up an ecommerce business in Singapore, but not sure where to begin? Help is available! Here are some of the initiatives launched by private and governmental agencies which can help make your transition into digital much smoother and easier.
1. Industry 21 Blueprint
By: IMDA and EDB
Goal: To define and adopt common IT standards to enhance seamless B2B documents exchange among companies for the electronic cluster.
What is it about:
The plan is to speed up the growth of the ecommerce sector in Singapore in five stages:
1. Develop an internationally linked e-commerce infrastructure
2. Jump-start Singapore as an e-commerce hub
3. Encourage its strategic usage by businesses
4. Promote its usage by the public
5. Harmonise cross border e-commerce laws and policies.
2. Action Community for Entrepreneurship (ACE)
By: Enterprise Singapore and JTC Corporation (JTC)
Goal: Promotes cooperation between corporations and start-ups via co-innovation programmes and support in taxes.
What is it about:
Ecommerce startups can seek support from ACE in terms of:
1. Corporate Innovation
2. Peer group Mentoring
3. Access to international markets and top-players in the global startup scene.
4. Pooled Resources – Shared e-commerce platform
Suitable for: Small to medium-sized enterprises (SMEs) which are unable to afford the initial capital costs. Support such as integrated warehouse functons, inventory management solutions, and order-fulfillment capabilities are available, which helps in streamlining the logistics processes and speed up operation by 45%.
By: Enterprise Singapore and Singapore Post (SingPost)
Goal: Subsidised costs and reduced labour for one-stop order-fulfillment by automation
What is it about: Under the Collaborative Industry Projects (CIP) initiative, SMEs are eligible for up to 70% funding support for qualifying development and/or adoption costs. Software-and equipment-related project cost will be supported at up to 50%. Many of the order-fulfilment processes will be collated and automated, which helps to eliminate excess manual labour while increasing efficiency in logistics and shipping.
4. JTC’s LaunchPad@one-north
By: Venture funds invested by internet companies in Singapore.
Goal: Provide a conducive environment and nurturing ecosystem for e-commerce start-ups
What is it about: It is a place which is located in close proximity to multi-disciplinary R&D environment, which includes knowledge-based companies, institutes of higher learning and research institutes that are at the forefront of innovation.
5. Networked Trade Platform (NTP)
By: Inland Revenue Authority of Singapore (IRAS)
Goal: Trade information management platform to support companies in the trade and logistics industry and adjacent sectors such as trade finance, where importers and exporters would have access to all government-related and commercial trade services.
What is it about: Electronic bill of lading and sea freight e-commerce.
Help businesses boost productivity by streamlining work processes, reducing inefficiencies of manual trade document exchange, and leveraging data analytics for insights from their trade data, so as to be well-equipped for the digital economy.
6. Global eTrade Services (GeTS)
By: eServices provider CrimsonLogic
Goal: Help businesses meet regulatory and compliance requirements across borders more quickly and efficiently,
What is it about: It is an electronic platform which facilitates the electronic exchange of trade documents between traders and foreign government agencies, enabling businesses to clear customs with greater speed and ease.
7. Start Digital Pack
Goal: Help new SMEs start their business right with foundational and competitively-priced digital solutions.
If you are an SME that has just started your business or is new to digital technology, you can now take up a Start Digital Pack under this initiative of the SMEs Go Digital programme, to give you a head start in going digital.
8. SMEs Go Digital
- Industry Digital Plan (IDP)
- Guide on digital solutions and training required for each stage of business growth
- Start Digital Pack
- Foundational digital solutions for new SMEs
- Consultancy Services (SME Digital Tech Hub)
- Expert advice you can tap on to transform your business using digital technologies
- Pre-Approved Solutions
- Project Management Services
By: Workforce Singapore (WSG) and SkillsFuture Singapore (SSG)
Goal: To offer support for individuals to learn a wide range of skills and increase their competency, which will increase productivity overall.
Looking to enhance your Digital aspects through SMEs Go Digital; browse through Pixel Mechanics dedicated Pre-approved packages here!