B2B digital platforms open new markets for local SMEs

WITH trade shows and business travel suspended amid the Covid-19 pandemic, digitalisation has become crucial for business-to-business (B2B) firms, especially small and medium-sized enterprises (SMEs) which can no longer rely on traditional methods of securing customers and conducting cross-border affairs.

Online platforms with local, regional and global reach are one way they can capture new opportunities in a changing business landscape, ensuring that they can continue operating and survive the downturn.

"The current crisis has accelerated the propensity for B2B buyers, from manufacturers to retailers, to look at diversifying their supplier base to support business continuity against disruptions to their supply chains," said Lee Yee Fung, director of ICM and digitalisation at Enterprise Singapore (ESG).