How to open an e-commerce store with grants
Do you want to open an e-commerce store and diversify your income streams? Do you already have a brick-and-mortar store and you want to make sure you don’t miss out on the online sales?
If your answer to these questions is yes, then you can benefit from the e-commerce booster package offered by Enterprise Singapore. This package helps Singapore B2C retailers in giving an online presence to their stores and defray the costs that come along with opening an online store.
Read on to know more about this package!
What is the e-commerce booster package?
The e-commerce booster package is created with a purpose to help merchants improve their online presence in order to increase their reach and sales. There are 5 e-commerce platforms appointed for this package : Lazada, Mummy’s Market, Qoo10, Shopee, and Zalora. SME retailers can engage with any of these platforms, sell their products online and the package will help to defray up to 80% of the qualifying costs.
The duration of the support is 6 months.
What is the eligibility criteria?
Your business is eligible for the e-commerce booster package if your business meets all these criteria -
Is registered/incorporated in Singapore on or before 30 April 2021;
Has a minimum of 30% local shareholding
Has a group annual turnover not exceeding $100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees;
Has an SSIC code starting with 47. Food manufacturers, food services, and beauty services companies can apply if they are predominantly retailing B2C products with at least one channel partner, either through its own physical channel or a channel partner (e.g. Fairprice, Redmart, department stores); and
Has a physical retail storefront.
Word of Caution: You are NOT eligible for the package if you are a pure online retailer or a home-based business. Retailers for furniture and fittings companies may retail their products through a physical showroom; such showrooms will qualify as physical retail storefronts. Warehouses are also NOT considered as physical retail storefronts.
What benefits and solutions do I get?
If you are eligible for the package, you can receive a one-time support of up to 80% of the qualifying costs of the package (capped at S$8000). You will only have to pay the remaining 20% of qualifying costs of up to S$2,000.
The e-commerce partners will offset the grant support received from ESG directly to their fees charged.
Listed below are the various solutions that you can receive help in –
Content development (e.g. product photoshoot, content copywriting, product packaging)
Product listing (e.g. setting up of merchant store, uploading of content, store decoration)
Channel management (e.g. assortment & pricing, promotion/campaign planning, forecasting and inventory management, data analytics)
Fulfilment (e.g. warehousing of products, fulfilment by e-commerce platforms, integration with last-mile logistics providers)
Advertising and promotion (e.g. cross-channel marketing campaigns, onsite/in-store marketing campaigns
Training workshops to enhance e-commerce capabilities