Alibaba to help SMEs go global

The project is part of Alibaba Group’s ongoing Spring Thunder initiative that helps SMEs stay afloat during the pandemic

Alibaba

Alibaba to help SMEs go global. Source: unsplash.com

Alibaba has introduced a Project Sprout Up initiative to help connect sellers with business opportunities abroad. The project also provides direct assistance in boosting their online trade capabilities.

The first phase of the initiative has been rolled out in Singapore, Korea, Italy, Russia, Indonesia, and Vietnam.

According to information, Project Sprout Up provides support by shortening onboarding time on the e-commerce platform. Consequently, it is creating new business leads and offering more training to B2B companies.

Alibaba stated it would also lower the barriers of entry so that global SMEs are able to quickly start building their e-commerce presence.

The climate of uncertainty will continue for some time as Covid-19 continues to disrupt economies worldwide. It is important for SMEs to take action now and develop different channels to strengthen their resilience to disruptions in demand. SMEs should capitalize on the various support initiatives to develop new customers and markets through cross-border trade and e-commerce during this crucial recovery phase
Lee Yee Fung, director of ICM and digitization of Enterprise Singapore

Besides, Project Sprout Up is also offering AI-backed digital tools for sellers to unlock global business opportunities. Therefore, the platform will allocate more marketing and promotional resources for newly registered users.

We’ve reported that Mastercard and Octet Europe have announced the launch of a new trade solution across the European Economic Area (EEA). With the Mastercard Trade Solution, SMEs can grow their business by managing any business transaction in a safe, real-time, and more efficient way.

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