Shopee offers SMEs financial, educational support

E-COMMERCE platform Shopee, owned by Internet company Sea, is offering a tailored seller support package to help small and medium-sized enterprises (SMEs) in the region overcome "unprecedented economic challenges" arising from the novel coronavirus outbreak.

It will provide financial relief to ease sellers' operational costs, educational support to help them refine their e-commerce strategies, and logistics and onboarding support for SMEs that are new to e-commerce.

The goal is to accelerate digitalisation and set the SMEs up for long-term sustainability, said Shopee chief executive officer Chris Feng.

"SMEs are the beating heart of our region's economy, and it is vital that we support them through these trying times," Mr Feng said.

The support package will be tailored for each of Shopee's seven markets in Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Taiwan.

In the area of financial relief, Shopee will temporarily lower administrative fees and commissions, as well as offer marketing support such as in-app advertising and exclusive access to in-app shopping campaigns.

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Shopee has also partnered some local governments to offer SMEs additional funding to grow their online businesses. In Singapore, it is one of four e-commerce platform partners on the Singapore E-Commerce Programme (previously known as the E-Commerce Booster Package) administered by government agency Enterprise Singapore, which subsidises 90 per cent of costs to set up operations on these platforms.

The educational support will take the form of access to Shopee University's localised online courses on the benefits of e-commerce and how to refine operational and marketing strategies. There are also interactive webinars and live streams by e-commerce experts and Shopee trainers.

SMEs that are new to e-commerce will pay lower advertising and shipping fees on Shopee's platform, and receive hands-on onboarding support from local Shopee teams to smooth their transition to e-commerce.

Shopee said it will continue to work closely with government organisations and partners on more initiatives to boost economic recovery for SMEs in the region.

Santitarn Sathirathai, group chief economist at Shopee's parent Sea, noted that SMEs in South-east Asia account for a majority of the region's employment and gross domestic product, and are particularly vulnerable to macroeconomic headwinds.

"There has never been a more crucial time for technology platforms to step up and provide SMEs with the tools to power through these turbulent times," he said.