Why Your Business Should have Online Presence in Singapore?

With increasing digitalization and greater use of gadgets like smartphones, laptops and availability of internet, the need for online presence has increased tremendously. More than 80% of Singapore’s population uses smartphones. The young customers prefer to check the details of the products online and read their reviews before they go out for shopping and actually buy the product.

Singapore Enterprise Association is an association that reviews, encourages, and provides support to all Small and Medium Enterprises to establish their foothold in local and global markets. As an initiative, the association has also adopted various techniques and arranges workshops about how business owners can take their business online. Before you get an invite for Singapore Enterprise Association review, it is essential to understand the benefits of going online:

1. Online stores are gaining popularity amongst the youngsters

Customers from younger generations spend almost 3.2 hours online. Going online with your business is a great idea to increase your sales, reach to a larger audience and market your brand in a cost-effective way. Customers trust the prestigious members and winners of the Singapore Enterprise Medal of Honour award. They feel more comfortable in doing business with enterprises who has certifications and accreditations from global organizations.

2. Attract more customers

Singapore Enterprise Association reviews and recognizes businesses who follow fair trade practices and maintain transparency in their service offerings. Partnering with SEA can help you to create your web page and promote your products online through Facebook, twitter, Instagram etc. Mobile and internet users are highly active on social sites. You can post details about your new stock regularly on these sites to raise customer curiosity levels and encourage them to visit your site. Once the customers are on your webpage, it offers wonderful opportunity to turn them into a buyer or subscriber to keep getting latest updates on fresh stock. You need to ensure that your webpage is easy to navigate and helps in finalizing purchases.

3. Raise your brand awareness and increase your profit margins

Online platform helps you to create a market for your brand and promote your business globally and locally. Online stores do not require a lot of capital for a physical office. You also save on the cost of hiring employees to attend the customers and reduce the marketing cost by posting everything online.

Be a part of Singapore Enterprise Association today and get a chance to be one of the top 100 SMEs to win the Singapore Enterprise Medal of Honour award.

Top 3 Digital Challenges Faced by SMEs in Singapore and Ways to Overcome Them

This is the era of technology and technological revolutions are happening every year. No matter how much we achieve, there is always scope for improvement for any business and a nation as whole. In Singapore, it has been observed that the digital adoption by Small and Medium Enterprises (SMEs) has been relatively slow. There can be many reasons behind it such as lack of awareness or certain challenges.

The Singapore Enterprise Association (SEA) is an organization that aims to encourage, recognize, and uplift the SMEs in Singapore. Among its any initiatives is the Medal of Honour Award which reviews and evaluates SMEs on various parameters and suggests areas of improvement.

Here’s a list at the common digital challenges faced by small businesses and the suggestions by Singapore Enterprise Association to overcome them:

1. Awareness about significance of digitization

Digitization is about how businesses keep pace with the tech-savvy consumers. Technology lessens the cost of operating a business. Companies that adapt to their consumer needs will always be in the picture and this is what digital transformation all about.

2. Lack of understanding of the digital skills

Many business owners ignore digital transformation because of ignorance about how to incorporate it in the business. They need to understand their compatibility with digitization. Businesses need to spend time and figure out which tasks can be automated.

3. Concerns about cyber security

What prevents businesses from adopting digitization is potential cyber threat. However, SMEs need to consult with a cyber-professional and get counselled at length before they move their operations to the clouds. Cyber security can prove to be a competitive edge that an SME has over others.

Nowadays, it’s a must for businesses to have a digital presence to help them improve their brand recognition, help them engage with the customers, and a lot more. Some businesses, especially the start-ups, need guidance and assistance to make the right decisions to expand and grow the business. That’s why Singapore Enterprise Association reviews your current business status and identifies improvements to help you achieve your business goals. Visit their website to more.