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10 Ways to Get Funding for Your eCommerce Business

dev_admin — Tue, 21 Dec 2021 07:53:40 +0000

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.

10 Things to Be Aware of For Your Website

dev_admin — Tue, 21 Dec 2021 06:57:30 +0000

In this modern digital world, your official company website is the lifeblood of your business. With almost five billion individuals owning a mobile gadget, you need to amp up your website design to ensure you attract traffic, generate leads, and boost client conversion. In the Lion City, you can be sure that most Singaporeans are judging your company based on your web page design and style. How your official site looks speaks volume about the character of your brand.

Remember, first impressions last, so you want to make a good one. Be sure to hire a professional website developer in Singapore with affordable prices, in-house local, reliable aftermarket support, and fully customized design and development to help you achieve your company’s goals.

It would be a nightmare to turn off your clients because your website is poorly made. This will not help build your reputation. A website has the power to make you look authoritative and credible, making you stand out from your competition. Here are ten things you must be aware of for your own website.

Design an Uncluttered Home Page

When you are just in the early stages of website development, your goal must be an uncluttered home page. Remember, this is the first thing that your clients will see. Your home page holds a lot of weight because it will determine if you can capture your clients’ attention long enough for them to stay and navigate your site, or this page can spell the end of your clients’ journey.

Those with a messy and uninviting home page turn off clients. Do keep in mind there is beauty in simplicity, so resist the urge to over-decorate. That will only confuse your readers and show that you are trying too hard but failing. You must balance this aspect with the design aesthetics so you can create a visually appealing website that your clients will be excited to check out from time to time.

Ensure Easy Navigation

Nothing is more annoying than a webpage that is hard to navigate. This is a major turn off because your clients will be confused, and they will not know what to click. A confusing layout will mislead clients. Some of them may get lost and not find the things that they are looking for. For best results, your web design company must prioritize clear tabs and headings because these are akin to instructions that lead your client to valuable content they may need.

Pay Attention to the Content

Apart from the design, a truly engaging website is not just beautiful to look at, but it must possess quality content. If your site does not have substance, no matter how nice it looks, your visitors will just get bored and eventually leave. Work hard on crafting premium content that adds value, so your clients will not think that they are just wasting their precious time by visiting your website. They will know that you have the knowledge and expertise in your industry through your content.

Organize Your Layout

Your site layout must be easy to traverse as this provides the structure of your whole site. An organized layout makes it easy for you and your clients to use the site. Be sure to place essential elements right at the forefront and center because the eyes are drawn to these areas. Your website layout ensures a smooth flow and transition.

Provide a Professional Look and Feel

The vibe your website exudes is a priority. When it comes to any kind of business, reputation is everything. If you do not project the right vibe, you risk losing your clients to your competition. Always strive for a professional look and feel because this shows your capabilities and credentials. Of course, you want to inspire trust in your visitors because confidence in you equates to a loyal following and increased sales.

Prioritize Page Load Speed

Most people in the modern world have reduced attention spans. One of the things they hate the most is waiting. If you want to keep your clients, you have to make your website’s page load speed a priority. Websites that take forever to download get rejected and left behind by clients. Buffering equates to moving on to a different site. No individual wants to waste his or her time waiting for a page to load when there are a million other sites that perform optimally.

Craft a Mobile-Friendly Version

Most people now use their mobile gadgets for surfing the net because it is just easy and convenient. Imagine, there are now almost five billion people who use their mobile devices on a daily basis. They use it more frequently than their desktop PCs. You must be able to tap this significant number with your website. Apart from focusing on traditional website design, your site must have a mobile-friendly version that will adapt to smaller screens, whether landscape or portrait. All the features of your site must be accessible through mobile devices because your clients opt to use them anytime and anywhere they are located.

Make Registration Easy

If you want to have loyal followers, registration is a must. Make sure your chosen web page development company will craft an easy to understand registration page. This makes data gathering of important client information a breeze. You need to build your subscriber list because you can use newsletters and direct emails to reach out to your clients. These are valuable digital marketing tools that allow you to engage with your consumers, promote your brand, give exciting offers, and help maintain client loyalty.

Final Word

It is not mere vanity to focus on your website design, but in fact, it is a crucial necessity. A poorly designed site is weak, so clients are turned off and leave with a negative impression. If you want to inspire trust in your visitors, you must work hard to ensure that your official company website is well-designed and easy to navigate. The whole goal is to foster respect because this builds trust, which in turn is the basis of successful relationships.

The post 10 Things to Be Aware of For Your Website appeared first on Corsiva Lab Malaysia.

Concerns When Finding the Best Web Design Agency in Singapore

dev_admin — Tue, 21 Dec 2021 06:56:15 +0000

Even though it is a small country, Singapore is a gateway to the rest of the world. Its strategic and central position in the map makes it a melting pot of various nationalities and host to many companies. Currently, the country is home to hundreds of website design firms that offer web design services to numerous clients around the globe. These firms are vital for this modern world that has embraced digitalization. With almost five billion people owning mobile devices, browsing the web for information and entertainment is now a potent habit.

The Significance of Website Design Agencies

These days, it is a requirement for all companies to have their own official website. Those that do not get with the program succumb to their competitors. After all, you look more credible and legitimate when you invest in a professional-looking website. Thus, as a business, you must make web site development a priority. For those that don’t have one yet, get to work on it stat. In the same token, if you have an existing site, you must work hard to keep it fresh and updated so as not to lose your current clients.

Keep in mind that people of the modern world have diminished attention spans. So they won’t revert their focus to your competitors, you must come up with innovative ways to keep your consumers entertained. You’ll need the help of a web design company Singapore that provides reliable aftermarket support, customized design and development, and professional services in order to stay trendy and cutting-edge. If you’re on the lookout for a web page design firm to help you out, consider the following factors to aid you in finding the right partner:

Evaluate Your Own Company’s Concerns

Before you even think of consulting a web design agency Singapore, you must first evaluate your company’s concerns. You need to identify your needs so you’ll know what services to avail. Do keep in mind that all websites have different purposes, and even those that share the same niche aren’t exactly alike.

As a client, take down notes so you can craft a list of requirements that you want your prospective website agency to do for your business. Website features and modules will depend mainly on the content you intend to release on your site. By identifying your needs, you’ll be able to find the best agency that has the skill and competence to address your issues.

Review Your Prospective Agency’s Portfolio

All web design agencies are not created equal. Just like when you’re shopping for goods, when you are looking for a web design company, it is vital to perform your due diligence and conduct extensive research by comparing your prospective agencies. Don’t readily accept an agency’s claim that they are the best. Words are not enough, so you must look at their results.

Ask them to show you their roster of clients. Reputable agencies will be proud of their work and will gladly show various portfolios of successful projects. This is all the evidence that you need to prove an agency’s skills. Examine the work they’ve done for your niche to see if a particular agency is skilled in presenting your kind of business. Since you are paying for their services, it is understandable why you want to work with a company that can show you visible results.

Tips: Understanding the current website design trends!

Seek Out Reviews and Referrals

The best way to find a reputable design agency is always by word of mouth. Ask your industry friends if they can recommend their favorite web design company Singapore. Those who are happy with their partners will be more than willing to share their resources. Ask the specific team members they like, so you can interview those people when you do your first consultation.

If you don’t know anyone, prowl the internet for reviews and testimonials. Apart from looking at portfolios, which come from the company, examining the personal feedback of their clientele will give you a clearer picture of true agency performance. Third-party feedback will show you how an agency relates to its clients.

Insist on an Initial Consultation

Reputable web development company Singapore will be more than willing to do an initial consultation for free. This can be conducted in person or through online video conferences. This meeting allows you to get to know their team. While meeting, observe the company culture and how they work with each other. If there are company issues, it can affect the quality of their work and their ability to meet deadlines. Use this occasion as your opportunity to ask pertinent questions.

Discover how your prospective agency works once the project is confirmed. Find out if they can show you a basic mock design, so you’ll know what to expect. Most of all, you must have a specific discussion on the price. Reliable web design firms give you estimates so you can plan your budget. It is critical to do this discussion so you won’t be surprised when the billing comes. It would be a nightmare to see sky-high prices that you have no idea how you incurred.

Ascertain What Maintenance and Support Services are Included

Apart from just designing the website, you need to inquire about support services. Your website relationship doesn’t stop because they’ve finalized your web page. You will have to worry about maintenance and updates. Inquire about hosting services, subscription costs, retainers updates, and the like. You need to finalize all these before signing a contract.

You may not need all their services, so be sure to study each one so you can avail of what you need and save where you can. Usually, stellar website design companies offer their esteemed clients upkeep and maintenance services because they know clients aren’t equipped to handle these. Some firms also go the extra mile and provide training classes, tutorials, and other additional services.

Final Word

Statistics show that most clients stop engaging with a website if they are not satisfied with the content or layout. If you want to make sure the traffic is up and leads are always on your web page, you must prioritize website design. To ensure you have a premium quality website that will captivate your audience, you need the help of a professional web designer to bring your website dreams to life.

The post Concerns When Finding the Best Web Design Agency in Singapore appeared first on Corsiva Lab Malaysia.

6 Productivity Solutions Grant for eCommerce Business

dev_admin — Sat, 18 Dec 2021 05:37:28 +0000

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

Using your CorpPass account, log in to the BGP.
Go to the “My Grants” tab and select “Get a new grant.”
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!)
Check if your business is eligible and hit “yes” if you meet the criteria
Fill in the details for the primary contact person and the letter of offer addressee details.
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”).
Indicate the cost of the project.
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.
Review your application.
Read through the consent & acknowledgment.
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 6 Productivity Solutions Grant for eCommerce Business appeared first on Corsiva Lab Malaysia.

5 Productivity Solutions Grant for eCommerce Business

dev_admin — Sat, 18 Dec 2021 05:37:18 +0000