Amazon announced at the inaugural Amazon Southeast Asia Online Seller Summit 2021 additional resources and support for small and medium-sized businesses (SMBs) in Singapore to start selling online and expand globally through its stores.
Amazon announced that it is extending the waiver of professional selling account subscription fees for new and existing sellers, until 30 June 2021. This support builds on Amazon’s current initiatives such as the online seller education series, Seller University, and over 225 free tools and services to help sellers grow their sales in Amazon’s stores in Singapore and worldwide.
In addition, Amazon is teaming up with Enterprise Singapore (ESG) to help local retailers scale globally. Enterprise Singapore will support these efforts through the Market Readiness Assistance (MRA) scheme.
Support will be capped at S$100,000 per new country, includes support for up to 70% of eligible costs for overseas promotion, overseas business development and overseas country set-up, and gives SMBs the flexibility to expand across new countries at their preferred pace. This is one of several measures which local enterprises can tap on through ESG to grow and diversify their businesses.
Market Readiness Assistance (MRA) Scheme
SMBs selling on Amazon.sg may receive an international boost through Enterprise Singapore’s Market Readiness Assistance (MRA) scheme to partially offset the costs of scaling their business overseas to new countries. Those eligible will receive the following support:
- Up to 70% of eligible costs, capped at S$100,000 per company per new country from 1 April 2020 to 31 March 2023, that covers:
o Overseas Promotion (capped at S$20,000)
o Overseas Business Development (capped at S$50,000)
o Overseas Set-up (capped at S$30,000)
- Each application is limited to one activity in a single overseas country (e.g. participation in a trade fair)
To be eligible, companies should meet the following criteria:
- Business entity is registered/incorporated in Singapore
- New country criteria, i.e. target overseas country whereby the applicant has not exceeded S$100,000 in overseas sales in each of the last three preceding years
- At least 30% local shareholding
- Group Annual Sales Turnover of not more than S$100 million; OR Company’s Group Employment Size of not more than 200 employees
Interested and eligible SMBs selling on Amazon.sg can apply for the Market Readiness Assistance (MRA) scheme via Enterprise Singapore’s website here. SMBs can also approach Enterprise Singapore and Amazon for advisory support to develop their internationalisation business plans.
“We will double-down on efforts to support our local businesses in gaining e-commerce capabilities and maximizing their growth opportunities from the digital economy,” said Minister for Trade and Industry, Mr Chan Chun Sing.
“To help companies access customers in new countries, ESG has also been working with Amazon to onboard Singapore sellers to Amazon as a channel for international sales, such as in the US, Canada, and India. Support is available for Singapore companies that are looking to expand to these countries.”
Said Henry Low, Country Manager, Amazon Singapore, “Small businesses are an essential part of Amazon’s DNA. Through the Amazon Southeast Asia Online Seller Summit 2021, we aim to enable more local sellers to reach a global audience through our 20 stores worldwide.
“Whether they are just getting started or are an experienced seller, Amazon’s comprehensive programs and network will help SMBs overcome operational challenges to maximize growth opportunities globally,”