FirstCom Solutions Attends E-commerce Resources Webinar by The Isolation Economy
The Isolation Economy is a brand new community effort that aims to collate resources to help SMEs navigate and adapt to the global COVID-19 crisis. Recognising that this is a challenging period for all SMEs, regardless of industry, they provide 3 resource centres (articles, webinars and courses) that are easily actionable and implementable for businesses.
They have featured our E-Commerce Web Software Development Version 0.9 Package as one of the off-the-shelf solutions available to SMEs. FirstCom Solutions was also invited to participate in a webinar hosted by The Isolation Economy, and jointly organised by Enterprise Singapore (ESG), Infocomm Media Development Authority (IMDA) and Singapore Business Federation (SBF).
The webinar was focused on introducing SMEs to the reality and global narrative of e-commerce growth. COVID-19 has greatly accelerated the growth of e-commerce around the world. In Singapore, pre-COVID19, e-commerce accounted for 5% of all addressable retail, around $1.9 billion. This figure is projected to grow to $7 billion by 2025.
Other talking points include the modes of access available to SMEs, namely:
- Apps (Carousell)
- Online platforms (Amazon, Lazada, Shopee, Qoo10)
- Self-run (Third-party website builders or web design agency)
As well as what companies need to look out for in order to digitize successfully. Particularly in the areas of maintaining good customer relationships while online, the know-how to market your business online as well as the fulfilment of orders.
Now, many SMEs find it difficult to innovate by themselves because it takes time and money, pulling effort away from their main operations. To address this, The Isolation Economy featured several booster packages intended to help SME retailers diversify their sales channels and revenue streams.
FirstCom Solutions is a 3rd-year pre-approved vendor of the Productivity Solutions Grant (PSG). SMEs who build e-commerce websites with us can subsidise up to 98% of the cost.