dev_admin, Author at Corsiva Lab Malaysia https://www.corsivalab.com/my/author/dev_admin/ Tue, 21 Dec 2021 07:52:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.5 https://www.corsivalab.com/my/wp-content/uploads/sites/10/2021/12/cropped-favicon-32x32.webp dev_admin, Author at Corsiva Lab Malaysia https://www.corsivalab.com/my/author/dev_admin/ 32 32 Productivity Solutions Grant for eCommerce Business https://www.corsivalab.com/my/productivity-solutions-grant-for-ecommerce-business-2/ Tue, 21 Dec 2021 07:56:45 +0000 https://www.corsivalab.com/my/?p=516 Being technologically ahead is not about having the most expensive equipment and the fanciest setups. It’s not all about the aesthetics and high prices when it comes to technology. Starting off your technological journey can be as simple as automating existing processes in your company to improve your overall productivity! Improving business productivity is the […]

The post Productivity Solutions Grant for eCommerce Business appeared first on Corsiva Lab Malaysia.

]]> Being technologically ahead is not about having the most expensive equipment and the fanciest setups. It’s not all about the aesthetics and high prices when it comes to technology. Starting off your technological journey can be as simple as automating existing processes in your company to improve your overall productivity!

Improving business productivity is the goal of the Productivity Solutions Grant (PSG). The PSG aims to support companies keen on adopting IT solutions and equipment to optimize business processes!

Think you fit the criteria? Learn more about the Productivity Solutions Grant below!

Productivity Solutions Grant Coverage

Businesses that include provide support to various industries. These industries include construction, food, landscaping, logistics, precision engineering, and retail industry are covered by the Productivity Solutions Grant. Nonetheless, for different sectors and for non-sector-specific industries, PSF can also provide various support such as data and inventory analytics and tracking and customer management. Adopting solutions that cut across most industries is also something that PSG supports!

Innovating from both the micro-level and macro-level not only ensures that your processes become more efficient—but they also ensure that your clients won’t have to face any delays when asking for your services. As long as your IT solution increases the efficiency of a process, the productivity solutions grant will cover it!

Supporting Innovation

The productivity solutions grant isn’t just supporting companies that can think of a means to boost productivity, but they also encourage innovation. Providing resources to those who can improve the way multiple industries function is the goal of the PSG.

Various government agencies have pre-scoped these IT solutions—some examples are Enterprise Singapore, the National Environmental Agency (NEA), and even the Singapore Tourism Board (STB)!

Encouraging Going Digital

The recent enhancement of the productivity solutions grant is the stepping stone towards getting most, if not all, enterprises to go digital. Encouraging enterprises to continue their pursuit towards digitalization will do wonders towards the progression of business efficiency in the future!

Through the continued upgrading efforts of companies to further optimize their workplace productivity using technology, more and more methods to boost efficiency will be developed. With the maximum funding support of PSG being raised to 80% the realm of opportunities has only become wider and easier to explore.

The merit of digitizing aspects of what keeps a company going is incredible. Keeping data has suddenly become more relaxed while also being safer. Managing appointments and managing client information has become seamless. Even getting access to company analytics on sales, productivity, or efficiency has become smooth and hassle-free!

Productivity Solutions Grant Eligibility

Gaining eligibility to apply for the productivity and solutions grant is quick and hassle-free. As long as your SME can meet the criteria listed below, they can apply for PSG:

  • Your SME must be registered and operating in Singapore
  • The SME must have a minimum of 30% of the local shareholding
  • The company’s group annual sales turnover must be less than S$100 million
  • Must have less than 200 employees (for specific solutions only)
  • The purchase, subscription, or lease of IT solutions or equipment can only be put to use in Singapore

Eligible employers who also fit the criteria listed below have the opportunity to qualify for additional subsidies under the Skills Future Enterprise Credits (SFEC) scheme:

  • Must not have been able to qualify for SFEC at any earlier periods in their career
  • Contributed S$750 minimum for Skills Development Levy over the period in which they qualified
  • Employed three Singapore Citizens (SCs) minimum or Permanent Residents monthly over the qualifying period

If you fit any of the criteria mentioned above, you will be eligible to apply for the productivity solutions grant!

Applying for the Productivity Solutions Grant

Once you verify that your company is eligible to apply for the productivity solutions grant, all that’s left to do is go ahead and sign up. Here are the steps that you might need to take when applying for the productivity solutions grant:

  • Visit the GoBusiness Gov Assist website
  • Browse the list of supportable solutions and find out which relevant solutions suit your business needs
  • If you’re in need of IT solutions, get a quotation from a pre-approved vendor
  • If you’re in need of tech and equipment, you have to source for the equipment and get a quotation from the vendor
  • Submit your application for the PSG on the Business Grants Portal (BGP)

Be sure to register for a CorpPass account for full access to the transaction processes on the portal!

Step by Step Guide to Applying for a Productivity Solutions Grant

  1. Using your CorpPass account, log in to the BGP.
  2. Go to the “My Grants” tab and select “Get a new grant.”
  3. Afterward, select your business sector and the grant type you want to apply for (make sure to choose a sector that best describes your business!)
  4. Check if your business is eligible and hit “yes” if you meet the criteria
  5. Fill in the details for the primary contact person and the letter of offer addressee details.
  6. Fill up your proposal by indicating whether you need equipment or an IT solution, select the vendor and details of the solution, and fill in the deployment location (don’t forget to upload the quotation from the vendor by clicking “select files”).
  7. Indicate the cost of the project.
  8. Explain the business impact that the proposal will have. Elaborate on the overall positive results that this will have on your company and the productivity gains.
  9. Review your application.
  10. Read through the consent & acknowledgment.
  11. Accept the terms of consent and click “submit.”

Companies can request more than one Productivity Solutions Grant application based on what their business needs. However, companies are limited to one package per solution category for one deployment location. If a requested IT solution is attempted for deployment at the same location more than once—the application will be subject to rejection.

Productivity Solutions Grant—Helping Businesses Evolve

The Productivity Solutions Grant is a step in the right direction for businesses around the world. Incentivizing companies to keep their processes digitized and efficient will improve their overall productivity by a large margin!

At a time like this, when technology is everything, keeping up with the trend and adapting is what will keep your business thriving.

The post Productivity Solutions Grant for eCommerce Business appeared first on Corsiva Lab Malaysia.

]]> Your Productivity Solutions Grant Questions, Answered https://www.corsivalab.com/my/your-productivity-solutions-grant-questions-answered/ Tue, 21 Dec 2021 07:55:46 +0000 https://www.corsivalab.com/my/?p=520 The Productivity Solutions Grant is a grant that supports companies whose goals are to adopt IT solutions and equipment to enhance their business processes. PSG is an amazing way to help kick-start your technology journey. You can do this by taking simple steps to automate already existing processes and improve productivity for businesses not only […]

The post Your Productivity Solutions Grant Questions, Answered appeared first on Corsiva Lab Malaysia.

]]> The Productivity Solutions Grant is a grant that supports companies whose goals are to adopt IT solutions and equipment to enhance their business processes.

PSG is an amazing way to help kick-start your technology journey. You can do this by taking simple steps to automate already existing processes and improve productivity for businesses not only in Singapore, but possibly the entire world.

PSG covers both sector-specific and cross-industrial solutions. These range from a lot of sectors from retail, food, and logistics, to customer management and data analytics.

If you’re reading this article, you’re most likely interested in the Productivity Solutions Grant and you have a lot of questions. Well, fret not, because we’ll be discussing all the commonly asked questions regarding the PSG from what it covers, who qualifies, how to apply, and more.

QUALIFICATIONS

Who Is Eligible for the Productivity Solutions Grant?

All businesses that are registered or incorporated in Singapore with at least 30% local shareholding are eligible for the Productivity Solutions Grant.

The company must also have a Group Annual Sales Turnover of not more than S$100 million and a Company’s Group Employment Size must not be more than 200 workers. The purchase, lease, or subscription of the Equipment or IT Solution must be used in Singapore.

Who is not eligible for the Productivity Solutions Grant?

All companies that do not fit the criteria as stated above. Also, all companies that have made any payment to a supplier, vendor, or third party in relation to the purchase, lease, or subscription of the IT solution or equipment.

Companies that signed any contract with a supplier, vendor or third party in relation to the purchase, lease, or subscription of the IT solution or equipment are also ineligible for the Productivity Solutions Grant.

Charities, Institutions of Public Characters (IPCs), Religious Entities, Voluntary Welfare Organisations (VWO), Government agencies and subsidiaries are also ineligible for the PSG.

COVERAGE

What Does the Productivity Solutions Grant Cover?

The Productivity Solutions Grant covers sector-specific solutions from retail, food, logistics, construction and landscaping, and precision engineering. It also covers cross-industrial solutions such as customer management, data analytics, inventory tracking, and financial management.

A full list of pre-scoped services are available here:
https://govassist.gobusiness.gov.sg/productivity-solutions-grant/

Can Unlisted IT solutions and/or Vendors that are not Pre-approved be Supported?

Unfortunately, only pre-scoped packages indicated in the list are supported. However, since PSG aims to facilitate quick adoption of proven productivity solutions that are recommended by sector-lead agencies, new productivity solutions are constantly reviewed and the list constantly gets additional solutions available.

As for equipment solutions, since there is no pre-approved vendor, the equipment must meet the minimum specifications indicated.

What is the Annual Grant Cap for PSG?

Each company supported by ESG is able to receive an annual grant cap of S$30,000 for supported solutions yearly from April 1st of until March 31st of the following year.

What Happens When The Grant Cap is Fully Utilised?

Companies that fully utilise their grant caps will no longer be eligible for further support during the validity period of the grant cap. If they wish to do so, they may reapply for new solutions during the next period when the grant caps are refreshed.

Taking this into account, companies are highly encouraged to plan the use of the PSG for their purchases accordingly.

EQUIPMENT & IT SOLUTIONS

What Costs are Supported for Adopted Equipment/IT solutions?

The purchase, lease, and hire cost of the pre-approved equipment or pre-approved IT solution package is the only supported cost unless stated otherwise. Related administrative fees or charges, like delivery fees and installation fees are not included.

Can the equipment or IT solutions be used for the company’s subsidiaries or other parties?

The equipment or IT solutions must only be used by the applying entity and not by any related party.

How long should the purchased equipment or IT solution be held?

The equipment or IT solution is subject to a holding period of one year from the date of final claim disbursement.

APPLICATIONS

What Should I Do Before Applying

Before applying for the Productivity Solutions Grant, the company will have to do the following.

1. The company must visit GoBusiness Gov Assist by clicking the link below to access a list of supported solutions and to identify relevant solutions that they plan to procure

https://govassist.gobusiness.gov.sg/

2. The company must obtain unsigned quotations from the vendor. IT solutions and vendors that are pre-qualified are listed under the grant.

3. The company must ensure that they have not signed any contract or made any payments prior to the submission of the PSG application.

How do I apply for the Productivity Solutions Grant?

After going through the steps listed above, the company will need to be registered and must set up a CorpPass account in order to apply for the grant. Simply state whether you’re the registered officer, admin, or user and proceed with the prompts to register.

After registration, you must follow the five simple steps as indicated on the Business Grant Portal (BGP):

1. Click on the “Get New Grant” button

2. Answer three questions pertaining your project

3. Fill out the application form and click on the “Submit” button.

4. Track the status of your application.

5. Accept the Letter of Offer

For a more in-depth and step-by-step- guide, click here

How Many Productivity Solutions Grants Can A Company Apply For?

Although companies can apply for more than one PSG, depending on their business needs, support will only be extended for one package per solution category per deployment location.

The purchase of one equipment unit or an IT solution per deployment is supported. Likewise, the subsequent purchase of another equipment unit or another IT solution but for deployment at another location is also supported.

Please note that if an applicant applies subsequently for the same IT solution or the same equipment to be deployed at the same location, the application will be subject to rejection.

How Long is the Processing Period?

Applications will be processed within 4-6 weeks from the date of submission of all required information. However, due to the COVID-19 pandemic, delays of 1-2 weeks are to be expected.

The post Your Productivity Solutions Grant Questions, Answered appeared first on Corsiva Lab Malaysia.

]]> Top 7 Government Grants for Singapore Businesses https://www.corsivalab.com/my/top-7-government-grants-for-singapore-businesses/ Tue, 21 Dec 2021 07:54:57 +0000 https://www.corsivalab.com/my/?p=523 A lot of businesses are struggling because of the current situation. Some have even opted to close down and as a result, this has been discouraging business aspirants from starting their own businesses during this time. In this article, we’ll be discussing the 7 best government grants available at the moment. 1. Market Readiness Assistance […]

The post Top 7 Government Grants for Singapore Businesses appeared first on Corsiva Lab Malaysia.

]]> A lot of businesses are struggling because of the current situation. Some have even opted to close down and as a result, this has been discouraging business aspirants from starting their own businesses during this time.

In this article, we’ll be discussing the 7 best government grants available at the moment.

1. Market Readiness Assistance (MRA) Grant

The first on our list is the grant for small and medium enterprises (SMEs). The Market Readiness Assistance (MRA) grant helps small and medium scale businesses take their business overseas.

The grant covers:

  • An overseas market promotion coverage at a cap of S$20,000
  • An overseas business development coverage at a cap of S$50,000
  • An Overseas market set-up coverage at a cap of S$30,000

However, each application will be limited to one activity in a single overseas market (market entry, or participation in a trade fair)

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore;
  • Newmarket entry 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% of 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.

Visit here to learn more about this grant.

2. Enterprise Development Grant (EDG)

The overseas venture is definitely important for a business to flourish and this grant does just that. The Enterprise Development Grant (EDG) aims to support projects that help upgrade your business, innovate, or venture overseas under three pillars:

Core Capabilities

Projects under core capabilities help them prepare for growth and improvement by strengthening the business’ foundations.

Market Access

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore
  • Be in a financially viable position to start and complete the project
  • At least 30% of local shareholding

The applications will be assessed by Enterprise Singapore based on project scope, project outcomes, and competency of the service provider.

Check this website out for more details and assistance.

3. Productivity Solutions Grant (PSG)

The first technology favored grant on our list is the Productivity Solutions Grant. Technology isn’t just about high-end and expensive solutions and this grant aims to support companies that need a kick-start, especially those keen on adopting IT solutions and equipment that enhance business processes.

The Productivity Solutions Grant also covers sector-specific solutions like food, retail, logistics, construction and landscaping, and even precision engineering. Cross-industry solutions like customer management, data analytics, financial management, and inventory tracking.

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
  • Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees
  • At least 30% of local shareholding

Learn more about PSG here.

4. Land Productivity Grant (LPG)

The Land Productivity Grant is for companies that plan to optimize land use either for domestic or overseas relocation. The grant defrays part of the initial relocation cost and is one-time contribution support.

The funding support for approved projects will vary from 10% to 70%, depending on the amount of land freed up and the remaining lease term.

Qualifying costs:

  • Relocation costs (i.e. moving existing plant and machinery to the new site)
  • Third-party consultancy fees for market and location feasibility studies
  • Manpower cost of the project manager or Singapore-based staff.

Activities supported:

  • Domestic Relocation
  • Production model restructuring
  • Relocation of existing operations
  • Immediate region relocation

To find out more, visit the website here.

5. Germany-Singapore SME Funding Programme (GSFP)

The GSFP is for Singaporean companies that aim to embark on joint-innovations projects with German companies. These companies will be receiving support by joining the call for proposals for Germany-Singapore technological R&D projects.

The Germany-Singapore SME Funding Programme is a joint effort by Enterprise Singapore and the Federal Ministry for Economic Affairs and Energy (BMWi). They aim to provide access to public funding for selected joint projects.

Also, it aims to encourage the development of ready-to-market solutions for products and technology-based services or processes with strong market potential for Singapore, Germany, and even the international market.

Qualification:

  • Project consortium must involve at least one Singapore SME and one German SME that are independent of each other;
  • Each project partner must contribute no more than 70% of the total project contribution;
  • Business must be registered/incorporated in Singapore;
  • Be in a financially viable position to start and complete the project;
  • At least 30% of local shareholding.

The applications will be assessed by Enterprise Singapore based on project scope, project outcomes, and competency of the service provider.

Find out more about this grant here.

6. Singapore-France Joint Innovation Call (SFJIC)

For Singapore companies that plan on embarking on joint innovation projects with French companies, the Singapore-France Join Innovation Call supports participants in a joint call for proposals for Singapore-France technological R&D projects.

Enterprise Singapore and Bpifrance will be providing access to public funding for jointly selected projects. Like the GSFP, It aims to encourage the development of ready-to-market solutions for products and technology-based services or processes with strong market potential for Singapore, France, and the international market.

Qualification:

  • Project consortium must involve at least one Singapore SME and one French SME that are independent of each other.
  • Each project partner must contribute no more than 70% of the total project contribution
  • Business must be registered/incorporated in Singapore
  • Be in a financially viable position to start and complete the project
  • At least 30% of local shareholding

The applications will be assessed by Enterprise Singapore based on project scope, project outcomes, and competency of the service provider.Check the official page here.

7. Specialised Cleaning Programme

The last on this list is very timely. The Specialised Cleaning Programme supports small and medium enterprises (SMEs) that have a confirmed COVID-19 case on their premises.

Applying will help defray part of the disinfections costs under the Specialised Cleaning Programme.

The eligible SMEs will be receiving 50% of eligible third-party professional cleaning and disinfection costs, capped at $3,000 per company

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore
  • Group Annual Sales Turnover of not more than S$100 million; OR Company’s Group Employment Size of not more than 200 employees
  • At least 30% of local shareholding

Do you still need help in finding the right grant for your business? We’re here to help!

The post Top 7 Government Grants for Singapore Businesses appeared first on Corsiva Lab Malaysia.

]]> 10 Ways to Get Funding for Your eCommerce Business https://www.corsivalab.com/my/10-ways-to-get-funding-for-your-ecommerce-business/ Tue, 21 Dec 2021 07:53:40 +0000 https://www.corsivalab.com/my/?p=529 Starting up an eCommerce business is easier said than done. Aside from the fact that you have to set up a high-quality website, build up your brand name, and get proper marketing—you also have to have the funds available to do all of these things in the first place. Having access to proper funding and […]

The post 10 Ways to Get Funding for Your eCommerce Business appeared first on Corsiva Lab Malaysia.

]]> Starting up an eCommerce business is easier said than done. Aside from the fact that you have to set up a high-quality website, build up your brand name, and get proper marketing—you also have to have the funds available to do all of these things in the first place.

Having access to proper funding and grants in Singapore is what you will use to build your business from the ground up before it starts making a profit. If your eCommerce business happens to be situated in Singapore, you’re in luck!

There is a multitude of ways in which you can get your eCommerce business funded. From government support to private equity firms, here are ten ways in which you can get funding for your eCommerce business!

Government Funding Grants Singapore

Government agencies in Singapore give cash grants and financing to local startups in the country. However, you have to match specific criteria set by the government.

Getting government funding for your eCommerce business is highly accessible and has some extra perks along the way as well!

Startup SG

Startup SG is a way for the Standards, Productivity, and Innovation Board (SPRING) to assist Singapore-based startups. Startup SG won’t just give your eCommerce business a source of funding—they will also provide mentorship programs that will help your business idea thrive!

Qualifying for Startup SG opens up a realm of opportunities for you and your business. Startups will have access to cash grants in Singapore, business loans, and equity financing that will be more than enough for you to build up your business.

Enterprise Development Grant (EDG)

The EDG is here to help businesses not only grow but also transform into the best versions of their companies. The grant focuses on upgrading businesses or helping them venture and expand their business overseas.

The three pillars of EDG in helping and transforming your business include the following:

  • Core Capabilities – helps businesses grow and transform by building the basic foundations of the business such as accounting, sales, and marketing.
  • Innovation and Productivity – this is where EDG helps businesses expand their horizons and identify new paths to grow their business. The support focuses on workflow assessment and updating or adapting to automation.
  • Market Access – the support focuses on businesses that are willing to venture and expand their markets overseas.

If you have a registered business operating in Singapore, have 30% local shareholding, and are financially viable for any of the three projects, then you can apply for the grant! Learn more about it here.

Productivity Solutions Grant (PSG)

As an overview, the PSG focuses on helping companies who want to transition and adopt IT solutions, automation, and equipment in order for them to enhance business processes.

The PSG covers specific industries such as retail, food, logistics, precision engineering, construction, and landscaping industries. Nonetheless, industries that are in need of data analytics, financial management, inventory, and data analytics can also get the support of PSG.

Angel Investing Networks

For those who don’t already know, angel investors are individuals with high net worth who invest in startups with potential. Seeking out these investors is beneficial if you don’t have a final business model but need quick access to capital. These investors will still invest in businesses regardless of whether the business model has proof of success or not.

These investors vary and can invest as individuals or as a group! Here are some of Singapore’s angel networks:

Business Angel Scheme (BAS)

Business Angel Scheme is an equity investment scheme supervised by SPRING SEEDS. BAS seeks to invest in innovative startups, and SEEDS will fund up to 1.5 million SGD for a business that they deem fit.

The angel group and SEEDS will take an equity share in proportion to their investment. Getting funding from BAS will allow your eCommerce business to get quick access to funds for the startup!

Business Angel Network South East Asia (BANSEA)

Getting funding from BANSEA is an excellent choice if you’re in the early stages of your startup. BANSEA was established in 2001 and heavily promotes the angel investing network in Asia. They aim to create investment opportunities for entrepreneurs who have innovative ideas but need funding for the chance to fully establish themselves as a business.

Singapore Angel Network (SGAN)

If your eCommerce business struggles to make ends meet in the later stages of its startup, running to SGAN for help may be the right choice. SGAN invests in startups at the late stages of their financial requirements to give businesses the final push that they need to get their business up and to run!

Unlike other angel networks that heavily fixate on fostering new ideas, SGAN doesn’t target a specific industry. SGAN invests in various business sectors and would be more than happy to fund your eCommerce business!

Venture Capital Firms

Turning to venture capital funding is an excellent choice for businesses that require a large capital in the late stages. However, venture capital is also a suitable option for businesses with lots of long-term potentials. With eCommerce rising in popularity as time goes on, venture capital firms won’t hesitate to fund your eCommerce business!

Singtel Innov8

Singtel Innov8 should be your first choice when looking for a venture capital firm. Owned by Singapore’s largest telecom company, this firm invests in digital media and internet applications.

Investing in early-stage startups, they wouldn’t pass up the opportunity to invest in the eCommerce scene considering its massive rise in popularity and practical use!

Jungle Ventures

This Singapore-based firm invests in early-stage startups focused on technology, software, and eCommerce. If you need funds for your eCommerce business, Jungle Ventures will surely give you a helping hand as long as you have the potential to succeed!

Jungle Ventures values the potential growth of a business above all else. Making your eCommerce business stand out amongst the rest is vital if you want to gain the support and funds of Jungle Ventures.

Private Equity Firms

Private equity firms mainly invest in profitable companies and businesses that are in a high-growth stage. Getting funding from a private equity firm can be an excellent choice if your business is in the middle or late stages of its growth.

L Capital Asia

This private equity firm mainly invests in consumer product brands, beauty & wellness, lifestyle retail, etc. L Capital Asia won’t hesitate to invest in a fast-growing market that revolves around selling a large variety of products worldwide.

Getting Your Business Rolling—Conclusion

Getting funding for an eCommerce business is not easy. With loads of different firms to choose from, finding the one that best fits your goals and criteria can be challenging!

However, with Singapore being one of the best places to go for business, there’s no doubt that you’ll find Singapore for your eCommerce business that your business deserves.

The post 10 Ways to Get Funding for Your eCommerce Business appeared first on Corsiva Lab Malaysia.

]]> Small Business Singapore Grants and Why You Need to Apply https://www.corsivalab.com/my/small-business-singapore-grants-and-why-you-need-to-apply/ Tue, 21 Dec 2021 07:52:44 +0000 https://www.corsivalab.com/my/?p=533 Grants in Singapore for Small and Medium Enterprise (SME) are a great way to kick-start businesses again or keep currently running businesses afloat. COVID-19 has caused rising unemployment and consumer spending decline, and with job losses and a decline in consumer spending, businesses have been struggling, and the competition is harder than ever. Over the […]

The post Small Business Singapore Grants and Why You Need to Apply appeared first on Corsiva Lab Malaysia.

]]> Grants in Singapore for Small and Medium Enterprise (SME) are a great way to kick-start businesses again or keep currently running businesses afloat.

COVID-19 has caused rising unemployment and consumer spending decline, and with job losses and a decline in consumer spending, businesses have been struggling, and the competition is harder than ever. Over the past few months, a lot of businesses closed down due to difficulty in sustaining their costs.

As COVID-19 cases begin to wane and businesses begin to reopen, they’re going to be needing all the help that they can get. Applying for grants provides businesses with the much-needed leverage they can to sustain themselves.

COVID-19 Supper Measures

In April, 8,500 businesses closed down in Singapore. More businesses are closing down because of the recession. As a result, Singapore introduced additional support measures to help keep businesses afloat during these times.

Through the S$33 billion Fortiture Budget, Deputy Prime Minister Heng Swee Keat introduced additional support measures. Most of these target SMEs and aim to help them survive COVID-19. The government, alongside Unity, Resilience, and Solidarity Budgets, is allotting S$100 billion.

Why You Need to Apply for Grants Singapore

Owning and managing a business isn’t an easy task, and thank’s to COVID-19, it’s become so much harder. A lot of businesses are closing down, and the remaining businesses around are having a hard time competing with each other because of the decrease in consumer spending.

The SME Grants Singapore is a great way to give your business an edge. There are several grants for specific sectors like the Market Readiness Assistance (MRA) Grant, designed for Small and Medium Enterprises that plan to scale overseas, Specialised Cleaning Programmes, or even Productivity Solutions Grant (PSG) that’s intended for IT solutions and equipment needs.

Applying for these grants provides you with benefits like support for overseas market set-up, identification of overseas business partners and overseas market promotion, or even up to S$3,000 worth of eligible third-party professional cleaning and disinfection costs. With these in hand, it will be easier to start or reopen your business.

What Do I Apply For Small Business Singapore Grants?

As of the moment, there are five options for Grants in Singapore for Small and Medium Enterprises (SME).

1. Specialised Cleaning Programme

This program supports Small and Medium Enterprises that have confirmed COVID-19 cases within their premises. The grant defrays 50% of the disinfections costs at a cap of S$3,000 per company.

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore
  • Group Annual Sales Turnover of not more than S$100 million; OR Company’s Group Employment Size of not more than 200 employees
  • At least 30% of local shareholding

Applicants are recommended to refer to the National Environment Agency’s website for a list of eligible cleaning companies that carry out disinfection works.

2. Market Readiness Assistance (MRA) Grant

The MRA grant is a good option for Small and Medium Enterprises (SMEs) that want to take their businesses overseas. Since Singapore is a relatively dense and small country, there might not be as much market as businesses are hoping for, and the MRA helps them achieve their overseas goals.

The grant covers:

  • Overseas market promotion coverage at a cap of S$20,000
  • Overseas business development coverage at a cap of S$50,000
  • Overseas market set-up coverage at a cap of S$30,000

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore
  • At least 30% of local shareholding
  • Newmarket entry 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
  • Group Annual Sales Turnover of not more than S$100 million; OR Company’s Group Employment Size of not more than 200 employees

3. Land Productivity Grant (LPG)

For businesses reopening businesses, they might want to relocate and look for better and more sustainable areas. The LPG covers part of the initial relocation cost and is one-time contribution support.

The grant covers:

  • Relocation costs (i.e., moving existing plant and machinery to the new site)
  • Manpower cost of the project manager or Singapore-based staff.
  • Third-party consultancy fees for market and location feasibility studies

Accordingly, the Land and Productivity Grant Singapore supports:

  • Domestic Relocation
  • Immediate Region Relocation (Iskandar Malaysia and/or Batam, Bintan, and Karimun in Indonesia)
  • Relocation of existing operations
  • Production model restructuring.

Criteria for eligibility:

  • Business has to be physically present and registered in Singapore
  • Business has to be currently situated on industrial land
  • Company must demonstrate strong linkages from the relocated activities to the activities carried out in Singapore for overseas relocation
  • Business must generate a minimum of 0.1 hectares (ha) of land savings

4. Enterprise Development Grant

Another great option for the overseas venture is the EDG. This grant helps businesses innovate and strengthen through their three pillars:

  • Core Capabilities
  • Projects under core capabilities help them prepare for growth and improvement by strengthening the business foundations.
  •  Market Access

Criteria for Eligibility:

  • Business must be registered/incorporated in Singapore
  • Be in a financially viable position to start and complete the project
  • At least 30% of local shareholding

5. (ESG) Productivity Solutions Grant

The Productivity Solutions Grant is technology favored and aims to support companies needing a kick-start for IT solutions and equipment that enhance their business. It covers sector-specific solutions like food, retail, construction, and even cross-industry solutions like customer management and data analytics.

Criteria for eligibility:

  • Business must be registered/incorporated in Singapore
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
  • Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees
  • At least 30% of local shareholding

Owning a business has never been harder, and the market has never been more competitive, and now that cutting down costs through Grants Singapore has been made simpler now because of the budget supplements for COVID-19.

With all of these grants readily available for you, there’s no reason why you shouldn’t apply and help ensure that your business is stable and sustainable.

Don’t take the opportunity for granted. If your business qualifies for a grant, apply now!

The post Small Business Singapore Grants and Why You Need to Apply appeared first on Corsiva Lab Malaysia.

]]> 5 Reasons to NCSS Tech-and-Go is Best for Your SSAs https://www.corsivalab.com/my/5-reasons-to-ncss-tech-and-go-is-best-for-your-ssas/ Tue, 21 Dec 2021 07:51:06 +0000 https://www.corsivalab.com/my/?p=767 The pandemic has shifted the way that multiple industries operate. The impact that it has had on our society is staggeringly high, to the point where it has even affected our societal norms and professional practices! With this many changes occurring globally, we are all forced to adapt and try to get back on track. […]

The post 5 Reasons to NCSS Tech-and-Go is Best for Your SSAs appeared first on Corsiva Lab Malaysia.

]]> The pandemic has shifted the way that multiple industries operate. The impact that it has had on our society is staggeringly high, to the point where it has even affected our societal norms and professional practices!

With this many changes occurring globally, we are all forced to adapt and try to get back on track. This includes the Social Service Agencies (SSAs) and non-profit organizations that now have more problems to face.

With fundraising events being hindered, remote work being implemented, and many things being more difficult to monitor than usual, SSAs have to find ways to ensure that they can remain up and running. Luckily, SSAs don’t have to face this problem alone! With the help of NCSS Tech-and-Go, your SSA can rest assured knowing that their digital transition will be a success.

Are you not convinced? Here are five reasons why NCSS Tech-and-Go is your SSAs best option!

What is NCSS Tech-and-Go?

The National Council of Social Service Tech-and-Go initiative is a one-stop tech hub for SSAs that need help going digital. With a plethora of suitable IT solutions that SSAs can effectively utilize, funding, and consultancy, Tech-and-Go has everything your agency needs to go digital.

NCSS Tech-and-Go helps social service agencies adjust to the new normal and increase their efficiency and productivity. With the help of Tech-and-Go, your agency will reach its fullest potential and have no problems with adapting to our ever-changing society!

NCSS Plans Out Everything

From re-opening your agency to putting your IT solutions in action, NCSS carefully plans out every step to ensure success. NCSS and their careful planning are what defines them. The plans and framework they construct keep you informed of each procedure and don’t leave you dark.

A great example of this is the framework they constructed for agencies that want to open up safely during the pandemic. NCSS carefully creates three phases of re-opening that prioritizes health, safety, and efficiency above all else!

The first phase revolves around the resumption of low-risk activities gradually. Anything that requires little to no contact that you can do safely will be slowly re-implemented.

The second phase of the framework for the resumption of activities focuses on a safe transition. Re-implementing a majority of economic and social activities gradually under a set number of regulations. The continuation of said activities can happen over a few sub-phases based on your agency and its current capabilities.

The third phase is the resumption of most, if not all, activities when the pandemic finally subsides and vaccines start rolling around. This plan is only one of many which will assist your company in the future!

NCSS Cares About Your Health & Safety

Workplace safety and health are crucial for NCSS. A healthy employee is a productive employee, which is why Tech-and-Go is adamant about keeping workplace safety at an all-time high for staff and visitors alike.

Not only does NCSS Tech-and-Go provide safety management measures to reduce the risk of transmission, but they also allocate masks, hand sanitizers, thermometers, and PPEs based on your agency’s needs. So in the event in which your agency wants to re-open and serve the public, you can do it safely!

Assisting Agencies in Remote Operation

Working remotely is something that a lot of people struggle with up until today. Transitioning from a proper desk in an office to your home can be difficult for all of us. However, with the help of NCSS Tech-and-Go, continuing your business operations is easy!

NCSS is in partnership with ThunderQuote, which recently released its digital transformation masterclass series. The series provides a step by step guide for SSAs and non-profit organizations to transform their operations digitally!

There are also grants available that support agencies that want to access IT hardware and software. The Tech-and-Go grant, in particular, is open to all NCSS member agencies!

Opening a Realm of Opportunities

The NCSS Tech-and-Go grant opens up an entire realm of opportunities for your agencies to grow and prosper. With the expert help that you receive from NCSS, your social service agency can increase its efficiency and digital productivity by a landslide!

The expert no-quote and one quote consultations that your agency can receive for your IT and digital needs provide you with well-needed insight into your current state and potential. Paired with the funding from Tech-and-Go, transitioning and operating tasks digitally will be a breeze!

The funding from Tech-and-Go can also help agencies upgrade their tech. Tech-and-Go gives agencies the little push that they need to transform digitally!

NCSS Tech-and-Go Breeds Innovation & Unique Practices

The NCSS Tech-and-Go program, above all else, is about finding ways to innovate the way SSAs operate digitally. By incentivizing agencies to optimize their digital processes, we discover more ways to improve how they function.

Prioritizing the areas that your agency badly needs is crucial to improving your company’s overall productivity. Improving data management, adding chatbots for clients and staff’s convenience, and automating tasks can do wonders for your agency’s efficiency!

Tech-and-Go also paves the way to unique practices that improve the quality of life of clients and staff. Things such as making senior or people with disability web pages, finding new uses for space in the office, and optimizing your mobile site can come a long way. Making everyone feel comfortable and making work efficient should be the goal of SSAs when they go digital.

Going digital is no easy task. It requires effort and loads of preparation to pull it off properly, and even then, some things might still go wrong.

The rate at which your agency progresses is entirely all up to you. Adapting is natural for businesses, and whether you want to keep up with the crowd is also your choice.

If you want to be ahead of the crowd and succeed as a social service agency, you have to know when and where to get help. Optimize the way your social service agency works with NCSS Tech-and-Go!

Creating opportunities and helping your agency transition digitally.

The post 5 Reasons to NCSS Tech-and-Go is Best for Your SSAs appeared first on Corsiva Lab Malaysia.

]]> 15 Profitable eCommerce Ideas for 2021 https://www.corsivalab.com/my/15-profitable-ecommerce-ideas-for-2021/ Tue, 21 Dec 2021 07:50:31 +0000 https://www.corsivalab.com/my/?p=762 The business landscape in Singapore has drastically changed due to the rise of eCommerce. As we enter another year of growth for the eCommerce market, it’s high time for aspiring entrepreneurs to start their online businesses. Though it’s easier said than done, the key is to choose the perfect idea that will attract potential online […]

The post 15 Profitable eCommerce Ideas for 2021 appeared first on Corsiva Lab Malaysia.

]]> The business landscape in Singapore has drastically changed due to the rise of eCommerce. As we enter another year of growth for the eCommerce market, it’s high time for aspiring entrepreneurs to start their online businesses.

Though it’s easier said than done, the key is to choose the perfect idea that will attract potential online shopping consumers. Online retail is fast-paced and requires knowledge of the trends that come and go every year. People are buying things on the Internet by the minute or even second, and your goal is to get them to buy your products.

Here are some ideas you can start with!

Computer Accessories

The market for computer accessories has grown immensely because technology plays a big part in our post-pandemic breakout lives. The rise of the gaming community over the quarantine has invited more people to start playing video games.

Start looking around your community and see if you can spot the people you need to attract and set up a social media platform to sell your products. Your patrons would like something durable and budget-friendly, so price and quality will surely work to your advantage!

What to sell: mouses, mousepads, webcams, microphones, speakers, headphones, headphone stands, and keyboards.

Interior Car Accessories

Recently, people have been leaving their houses in the safety of their cars. Car owners will certainly have more time on their hands thinking about the next purchase to upgrade their ride. Think of must-haves an owner would like to make their driving experience comfortable and pleasant.

What to sell: air fresheners, humidifiers, floor guards, charging adaptors, steering wheel cover, back seat pocket storage organizer, and car seat gap plug.

Home Workout Equipment

When people are usually at home, they begin to take action on self-improvement. Before, you had to wait for people to make their New Year Resolutions to commit to working out at home.

Nowadays, it’s a matter of identifying and captivating your market to buy your products. Target the health and lifestyle niche through home workouts and sell yoga mats, exercise balls, water bottles, dumbbells, jump ropes, and hula hoops.

Personalized Vitamins

Capitalize on the health, wellness, and mindset that a lot of people have developed after surviving a public health crisis! Consult an expert for your eCommerce Singapore business to help you pick out safe and quality products. Design a professional-looking platform where your patrons can take an interactive quiz to find the set of vitamins that will help them with their health concerns.

What to sell: Vitamins, Probiotics, Collagen, Protein, and Minerals.

Gardening Supplies

With a lot of free time on their hands, people have been getting their hands dirty and reconnect with nature, and that’s where your eCommerce Singapore business comes in. May it be growing indoor plants, flowering plants, common garden plants, or homegrown vegetables. Explore different options and tools, see if it sells if you sell them in bundles.

What to sell: seeds, pot, potting mix, trowel, rake, branch shears, spray bottle, and shovel.

Pet Supplies

Our companions at home have been receiving a lot of love and attention recently. Shoppers are buying more grooming tools, a variety of food and treats, and wearable clothing items for their pets. It’s best to pick out products that are unique and functional to attract pet owners who would like to pamper their dogs and try something new.

What to sell: Leash, collar, treats, bed, playpen, cage, and toys.

Loungewear

Contrary to popular belief, staying at home is not an excuse to not change out of the clothes from the day before. Sell fashionable loungewear that beats the humid Singapore climate and suits the casual daily Zoom meetings.

What to sell: Shorts, Pajamas, and Shirts in assorted materials.

Skin Care

We associate self-care with skincare and that’s what you, as a business, focus on. As makeup brands capitalize on this mentality, you should, as well. This is an opportunity to join in, and sell these popular products like East Asian skin, along with the trendy multiple-step beauty routines.

What to sell: peel off-masks, facial tools, UV masks, aloe vera gel, and face brushes.

Hair Accessories for eCommerce Singapore Business

If you have been on social media recently, hair accessories are now an essential part of completing one’s outfit! Trendy hair accessories have made their way into the eCommerce industry. These items are relatively easy to sell and there’s a lot of styles you can choose from.

What to sell: hair clips, headbands, scarves, ionic hairbrushes, styling tools, hair extensions, and wigs.

Home Office Supplies

Since last year, workers and students alike were forced to adapt to work from home environments. People have been turning their homes into conducive and comfortable working spaces and they need home office supplies. So, aside from swivel desk chairs and furniture, you can sell decorative and functional items that will surely sell well in your eCommerce shop.

What to sell: clocks, vases, timers, small mirrors, laptop risers, wire organizers, portable desks, and ergonomic furniture.

Smartphone Accessories

When choosing a product to sell in eCommerce Singapore, you might be interested in essential items that don’t take up a lot of space such as smartphone accessories. As such, it would help to be an online shop that has all the accessories so people are more likely to buy bundles products from you.

What to sell: earphones, pop sockets, stands, tripods, phone cases, smartphone lenses, and Bluetooth speakers.

Stationery and Journaling Materials

With a lot of time alone, people have been taking the time to reflect through journal writing or starting a bullet journal. It has grown into a trend among the student and young professional age groups. So, take the cure of influencers and bundle your stationery and journaling items on your eCommerce website.

What to sell: colored paper, stickers, washi tapes, colored pens, pencils, and markers.

Kitchenware

There have been creative innovations to everyday kitchenware; whether in design or functionality, people have been able to customize their kitchens. Your selling point can be a certain design element in your products or trendy, functional products seen in social media advertisements. Find your specific market to attract and start narrowing down your choices from there.

What to sell: multi-functional appliances, teacup sets, glassware, colored ceramics, pots, pans, and baking goods.

Baked Goods

If you have a knack for baking, you can try venturing into baked goods. It’s a versatile kind of food to sell, and your patrons can buy it for any occasion or if they’re craving something sweet. It’s comfort food for everybody, so you don’t have to find a specific market to focus on. Get creative!

What to sell: cupcakes, brownies, cookies, cakes, and buns with varying flavors and added ingredients.

Keep in mind that even with these ideas, what matters the most is you have built a solid business plan to bring your ideas to fruition. Understand the other factors of what makes a successful eCommerce business and know your specific market.

What may have worked for the US or China may not work for Singapore. Trust your gut and equip yourself with enough knowledge and resources, then you’re good to go! Work with a complete and trusted eCommerce Singapore agency today and build your business to success!

The post 15 Profitable eCommerce Ideas for 2021 appeared first on Corsiva Lab Malaysia.

]]> NCSS Tech-and-Go – Everything You Need to Know About it https://www.corsivalab.com/my/ncss-tech-and-go-everything-you-need-to-know-about-it/ Tue, 21 Dec 2021 07:49:50 +0000 https://www.corsivalab.com/my/?p=759 Going online as a Social Service Agency (SSA) can be a daunting task. Especially for Social Service Agencies that don’t have any prior experience in getting their business online. Sitting through different workshops, getting IT consultancies, and capability building can be a lengthy and pricey process that can discourage agencies from going digital. However, with […]

The post NCSS Tech-and-Go – Everything You Need to Know About it appeared first on Corsiva Lab Malaysia.

]]> Going online as a Social Service Agency (SSA) can be a daunting task. Especially for Social Service Agencies that don’t have any prior experience in getting their business online.

Sitting through different workshops, getting IT consultancies, and capability building can be a lengthy and pricey process that can discourage agencies from going digital. However, with NCSS Tech-and-Go (Singapore’s program), going digital can be stress-free and affordable!

The National Council of Social Services’ Tech-and-Go initiative is a one-stop tech-hub that SSAs can go to when in need of advisory, IT solutions, and many more. Get your SSA digital now by learning more about Tech-and-Go down below!

Tech-and-Go Funding

NCSS funding helps SSAs get started on their technological journey along with competitively priced solutions for automating processes and digitizing data. The funding allows social service agencies to take up IT solutions and consultancies for projects without being stopped by a tight budget!

Any MSF funded social service agency or NCSS Tech-and-Go (Singapore’s program) member can apply for the funding. Tech-and-Go opens up a realm of opportunities for SSAs that haven’t gone digital yet. This initiative ensures that your agency doesn’t go broke while making its digital transformation.

The amount your agency can receive depends on what it’s trying to achieve. For pre-scoped IT solutions, your agency can receive up to 80% in funding capped at $30,000. For a large scale IT solution that requires more effort and resources, your agency can receive up to 80% funding capped at $300,000 per project!

However, the funding can only cover specific costs such as laptops, maintenance costs, subscription costs, delivery/shipping costs, user training costs, service charges, design fees, administrative fees, professional fees, digital fundraising services, and goods and service tax (GST). Funding provided by the NCSS will not cover extended warranty fees and bank charges!

Tech-and-Go Consultancy Options

Deloitte Consulting and ThunderQuote work under the NCSS Tech-and-Go (Singapore’s program) to provide consultancy services to SSAs in the Tech-and-Go initiative. Getting a consultation is necessary when you’re trying to transform your social service sector digitally. SSAs have the option of getting a project consultancy or technical advisory!

Gone are the days of having to get a three quote consultation for your SSA to transition digitally. One quote is all you need, and you can even have a no quote consultation for pre-scoped consultancy. Find which consultation option fits your agency the most down below!

NCSS Tech-and-Go (Singapore’s program) Technical Advisory

The technical advisory aims to give your agency a fully funded pre-implementation analysis and advisory of technology that may be relevant for your agency. Through the technical advisory, your agency will know the ins and outs of what you need for your digital transformation.

After the assessment, the consultant will provide one of the following services to your agency:

  • Identify areas of improvement that you can do to existing IT funding applications, cybersecurity, hardware, or digital infrastructure.
  • Recommend that your agency applies under Tech-and-Go funding to start digital pre-scoped IT solutions.
  • Recommend and provide modules for Project Consultancy from Digital Strategy Planning and Digital Implementation Consultancy.

You essentially get to enjoy a fully funded pre-project advisory as a way to support your agency before you begin your IT project. You don’t have to source for suitable consultants as well since NCSS has pre-appointed consultants. Save time and money for your SSA by getting a technical advisory today!

Tech-and-Go Project Consultancy

Project consultancy is for eligible SSAs that require help in planning and implementing any IT projects. Through the digital implementation consultancy or digital strategy planning tracks under project consultancy, achieving success for your project is within your grasp!

You’ll have 80% funding support from NCSS as well capped at $40,000 for pre-qualified consultancy.

3 Stages of SSA Digitalization

Digitalization doesn’t come instantly. It’s gradual and largely depends on the agencies’ digital readiness and current technological needs. SSAs should be prepared to adopt the relevant technology when their agency is ready to move on to the next stage!

SSA Digitalization Stage 1

This stage is all about improving your client’s experience and optimizing your operations. Temperature screening for the clients will be a must, and automated visitor management is essential. Appointment scheduling will also have to occur, and teleconsultation will be utilized to its fullest extent.

The first stage of corporate functions focuses on accounting & HR management, an e-commerce website, email marketing, video conferencing for collaborations, and collaborative tools!

SSA Digitalization Stage 2

Stage 2 SSAs have made the client’s experience seamless. Integrated and scaled operations also mean that most processes and functions in the agency work smoothly.

Facing clients happens through automated outreach and engagement solutions. A digitized reward system for your clients’ good behavior will also be essential. Daily living activities and a rehab device will also benefit the client in achieving a healthier lifestyle.

The use of digital storage for corporate assets, donors, inventory, volunteer management, and other data will boost the agency’s efficiency as a whole. The utilization of e-scheduling and workforce management will be more apparent under stage 2.

SSA Digitalization Stage 3

Stage 3 aims to automate most of the social services that they offer in the specific SSA. Facing clients is incredibly efficient and seamless, with chatbots ready to go at any time and client safety monitoring. The use of robots and AI for client care, education, and cleaning will revolutionize SSAs around the world.

Corporate functions will all be automated. Automation will include the use of chatbots and utilizing robotic process automation for answering staff inquiries and automating simple processes!

Capability Building—Going Digital

Knowing how you can fully utilize the digital landscape is difficult, especially for SSAs with no prior knowledge of transitioning their functions digitally. However, with the help of capability-building courses, you don’t have to worry!

By signing up for any of the courses tailored for the social service sector, you will learn about the ins and outs and how you can navigate through disruptions that you may face in the future! Choose a course that best suits your agency’s needs and goals here.

Getting your social service agency digital is a tough task. But, with the help of NCSS Tech-and-Go, going digital will be a breeze!

The post NCSS Tech-and-Go – Everything You Need to Know About it appeared first on Corsiva Lab Malaysia.

]]> 10 Effective Ways to Use Social Media for eCommerce https://www.corsivalab.com/my/10-effective-ways-to-use-social-media-for-ecommerce/ Tue, 21 Dec 2021 07:48:41 +0000 https://www.corsivalab.com/my/?p=755 For the past two decades, the algorithms of social media platforms continue to change from time to time to adapt to the evolving consumer trends gradually. From the text-based content to more impressive and stimulating visuals, there emerged innovative apps such as Snapchat and Instagram. These are being used as promotion platforms for eCommerce. Entrepreneurs […]

The post 10 Effective Ways to Use Social Media for eCommerce appeared first on Corsiva Lab Malaysia.

]]> For the past two decades, the algorithms of social media platforms continue to change from time to time to adapt to the evolving consumer trends gradually. From the text-based content to more impressive and stimulating visuals, there emerged innovative apps such as Snapchat and Instagram. These are being used as promotion platforms for eCommerce.

Entrepreneurs grab hold of the opportunities social media platforms offer as they are perfect for cost-effective product and service promotions to the target clientele. If you still haven’t taken advantage of any of the social media platforms for fear that you might not gain any followers, take note that even cats can earn millions of followers just for being cute. The key is to create a strong social media presence to drive traffic to your page or site, establish a brand image, and generate sales.

Social media is an effective tool to grow your business and increase your profits exponentially. But how do you effectively use social media to boost your business performance? Here are ten tips to help you.

Social media enables you to target your business objectives successfully.

For any project to be successful, you need a goal on which your blueprint will be based on. So you have to set your goals such as the targeted amount of traffic you wish to generate, the number of followers, the rate of engagement, and the expected number of conversions to achieve your targeted sales. You can think of other goals based on your business’ overall objective but make sure your goals should be specified, and set parameters, set your benchmarks so that you’ll know if your time, effort, and money are not wasted in the process.

Use social media to drive traffic to your website.

With social media, you can connect, engage, and establish relationships. With that in mind, you can start driving traffic into your site, which is essential to stir the buying interest of your target clientele and convert that interest into sales. According to research, positive interactions with potential clients and existing customers on social media help you to increase engagement because these people are three times likely to recommend or promote your brand. When people say something nice about your brand, your reach will go farther enabling you to get more connections to increase traffic and leverage sales. You will eventually establish relationships when your customers repeat purchases.

You can promote your brand on social media to boost views, engagement, and conversions.

If you wish to compete within your niche, you need to promote on popular social media platforms such as Facebook and Instagram. Advertisements are paid, so you need to invest in them wisely. By boosting your page, which is connected to your site, you are driving more traffic to increase conversions. Experts say that 94% of companies are now using social media for paid advertisements because of its cost-effectiveness and extensive reach. By promoting on these social media sites using a combination of written content, images, and backlinks to your blogs and/or site, you will be able to reach potential consumers practically.

Communicate real-time with existing and potential clients through social media messaging apps. 

Social media has instant messaging apps that allow users to communicate with family, friends, and even strangers from different parts of the world. In the world of e-commerce, entrepreneurs and their partners exchange ideas through these platforms. More so, they use this practical tool to communicate with their buyers. So take the time to respond to the messages of your clients.

Social media is an effective customer service tool.

Research shows that 88% of customers whose queries and complaints are left unanswered are unlikely to buy the company’s products or services. The worst thing that can happen is that they might leave a bad review on your page or site, which can disengage customers and stain your brand’s reputation. So use social media to benefit your business and maintain a good relationship with your customers by responding to them the best way you possibly can.

Social media lets you extend your connections, including micro-influencers.

Over the years, the internet saw the rise of influencers using social media as a platform for their content. Since they are gaining immense followers, brands have discovered the effectiveness of partnering with them; thus, influencer marketing emerged and has since become the fastest growing marketing strategy for e-commerce.

You can share your visual content on your social media page.

Approximately 80 percent of marketers use high-quality visuals (both images and videos) to engage the target market. In addition, 85 percent of buyers have been enticed to buy products based on videos they have seen. Thus, it is important to create visual content to make your brand more attractive.

You can increase your brand presence on social media by boosting posts.

If the target market likes your content, they are highly likely to comment on them and even share them to increase engagement and extend reach. Your job is to make sure you reach as much target market as possible, which you can do by boosting your posts. Facebook has a feature that allows you to boost your posts to make them visible to more people.

Hashtags are a thing in social media, which you can also use for social commerce. 

Organic presence can be increased if you use hashtags as it helps you reach users that search specific hashtag terms. Hashtags are a staple on Twitter and Instagram but not so much on Facebook.

Get more sales every day through social media.

The ultimate goal of every online entrepreneur is to generate more sales every day. As long as you continue to patiently improve your brand image, you will attract more buyers. Make use of the tools offered by Facebook, Instagram, Snapchat, and other social media websites to market your products and services to your target clientele.

Now that you are aware of the effectiveness of social media for e-commerce, apply the tips listed above in your daily hustle and observe the improvements in traffic, engagement, and sales conversions. Learn more about eCommerce in Signapore today!

The post 10 Effective Ways to Use Social Media for eCommerce appeared first on Corsiva Lab Malaysia.

]]> 7 Factors for a Successful eCommerce Business https://www.corsivalab.com/my/7-factors-for-a-successful-ecommerce-business/ Tue, 21 Dec 2021 07:48:06 +0000 https://www.corsivalab.com/my/?p=750 The current market can be a scary place. For the past few years, especially months, we’ve witnessed several companies and businesses we thought were here for the long run. The list includes Dunkin Donuts, Toys “R” Us, and Chuck E. Cheese to name several. If brick-and-mortar businesses like these are having problems with retaining their […]

The post 7 Factors for a Successful eCommerce Business appeared first on Corsiva Lab Malaysia.

]]> The current market can be a scary place. For the past few years, especially months, we’ve witnessed several companies and businesses we thought were here for the long run. The list includes Dunkin Donuts, Toys “R” Us, and Chuck E. Cheese to name several.

If brick-and-mortar businesses like these are having problems with retaining their success, then how do we, the upcoming online businesses do it?

It might be hard to think about it. However, if your market strategy and your strive for greatness are consistent as a brand and as a business, finding success and growing as a company won’t be impossible.

Remember, hard work will always be outmatched by working smarter and more efficiently. It’s not always the constant hard work that matters, it’s knowing where to work hard in.

In this article, we’ll be discussing 7 factors for a successful eCommerce business.

1. Branding

eCommerce is inherently more competitive than brick-and-mortar stores because you compete against local businesses and international brands. This situation can be your enemy or your foe, depending on how you take advantage of it.

With so many to compete against, establishing your branding is both simple yet complicated. It’s simple because you can choose your branding elements freely. However, entry into the market, even with the best branding, can be difficult.

Remember that your brand is the identity and the heart of your business. It embodies the set of values of your business operation, and most of the time, it indirectly, yet very gravely, influences your sales.

Play your cards right in both the visual and text elements of your brand. Always put your target audience first. Build a brand that’s easy to recognize and is recognizable in a positive light.

Always remember that branding is not limited to visual content. Reputation, relationship, and trust with the customer are also important.

2. SEO

Search engine optimization is part of any eCommerce business. SEO is even more important for local businesses that have transitioned to eCommerce.

It is very important to follow SEO best practices and ensure that you optimize your content. Optimization should include meta tags, meta descriptions, image tags, and other optimizable contents as these are very valuable for your website.

These are the backend of your content which means that only the management can optimize these aspects of your website. However, these are the factors that search engines use in order to find your website. Specifically, once you properly and effectively optimize your website, the easier it is to get more visitors and potentially more sales.

3. Transparency

Transparency is one of the challenges that some eCommerce businesses face. Now that there’s no longer a physical store and there are no longer visible employees, it makes it harder for customers to build a relationship and trust the business.

In hindsight, it’s highly suggested that several steps are taken to ensure that your business feels legitimate and credible, offering quality service or products.

The easiest way to do this is to make sure your contact details are visible all throughout your website or your platform. Another way is to communicate with your customers. Create social media accounts that help you interact with customers more personally and occasionally post updates.

4. Site Navigation for eCommerce Malaysia

Think of site navigation as your physical store. If your store’s entrance looks shady and isn’t welcoming, most people won’t enter. Even if they do enter your store, if they see that you have an unorganized storefront, they’ll most likely leave to look for better places.

Even if you have great products or services, people get discouraged to visit and even make a purchase if your website is cluttered, wonky, or difficult to navigate. Avoid this pitfall and make sure to work with a digital marketing company for eCommerce Malaysia that understands your brand.

Another way is to reinforce your branding and to make sure that processes like carts and checkouts are as straightforward as can be. List your products and provide an option for reviews. Most successful websites also have a real-time chatbox, so add one to your website, too!

5. Corporate Social Responsibility

Businesses that care are sustainable businesses. Businesses that make an effort to make the community better are sustainable enterprises. These are the ones that customers love, especially now that social awareness has become part of the norm.

According to experts, 87% of customers prefer purchasing products or services from brands that care for the community. Therefore, a purpose-driven brand is more accessible to a lot of customers and will most likely get more sales.

Teaming up with organizations or groups that support causes, such as equality campaigns, mental health awareness, and especially environmental advocacies tend to get noticed more. As a result, this helps them build a reputation as a business that cares.

6. Engagement

Boosting engagement amplifies everything else you do as an eCommerce Malaysia business. If you take care of all of the factors above but it isn’t getting noticed, then it’s all for nothing.

Even if you team up with organizations or groups that support causes, even if you’re transparent and responsible, if people don’t hear your message, then you must be doing something wrong.

One of the best ways to get your message through is to engage with your audience. You can do this through self-promotion on social media, paid advertisements, or just engaging with influencers in your industry using your business’s own account.

Instagram, YouTube, Facebook, and even Pinterest are great platforms for boosting engagement. Boosting your engagement through content marketing is very important and drastically affects your sales and even your business’ survival.

7. Voice Search Optimization

Last and quite possibly the most important of all on the list is voice search optimization. Almost every great eCommerce platform now has voice searches, especially when opened in voice search supported platforms such as Google.

According to Webfx.com, voice search generates more than $2 billion in sales. Therefore this very handy addition creates a convenient experience for the customers. The more convenient and user-friendly your platform is, the more likely customers will order.

Although it’s not as popular as the common SEO or Meta Tags, voice search engine optimization has grown quite popular in recent years and has driven over $2 billion in sales, clearly showing promise. In light of this, there’s clearly nowhere to go but up and what better choice is it than to get started early and optimize your site for voice search.

If you’re ready to build and succeed with your eCommerce Malaysia, work with an eCommerce team today and be on top!

The post 7 Factors for a Successful eCommerce Business appeared first on Corsiva Lab Malaysia.

]]>