Grow Digital is an initiative launched by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore (ESG) under the SMEs Go Digital programme, providing SMEs with an opportunity to expand their market presence and reach new customers. Through Grow Digital, businesses can expand their business operations to the virtual world, by participating in Business-to-Business (B2B) and Business-to-Consumer (B2C) e-commerce platforms.
This enables them to sell their products and services overseas, without the need for a physical presence. This initiative is designed to help SMEs better leverage digital technologies, in order to reach out to a larger customer base and expand their business.
Eligible SMEs can receive up to 70% funding to participate in the platforms under Grow Digital. Adoption of these platforms does not count toward Productivity Solutions Grant funding utilization, which is capped at a maximum of S$30,000 per SME per year.
Outcomes and Impacts
- Smart matching to connect SME suppliers with potential overseas clients
- Optimised listings on overseas e-marketplaces
- Prompt access to financing offers facilitated via the platforms
- Cross-border e-payment facilities that alleviate currency risks
- Strong partners network such as with logistics companies to facilitate last mile delivery
- Training and support to build competencies for cross-border e-commerce