Google launches new platform to help local SMEs breach overseas markets
Internalisation is just a click away with Go Global.
In collaboration with SPRING Singapore and International Enterprise Singapore, Google has launched an industry initiative called Go Global that aids Singapore small and medium enterprises (SME) in selling services and wares on the web and reach overseas markets.
The project showcases a website that provides new SMEs a variety of resources to build capabilities for internationalisation while existing exporters can find tools to help them branch out to online exporting. The website offers online and offline training courses, and exclusive opportunities provided by the initiative’s partners.
For instance, Digital Export Plan streamlines the process for SMEs to find out how optimised their websites are for selling overseas. Businesses need only provide a link to their website, and it will be evaluated. SMEs can also access professional advice and export plans specific to their needs.
The website also offers a free online application that helps SMEs find new markets overseas. It compares opportunities through the use of Google Search data, Google Translate keyword translation, and AdWords keyword bid and competition. These metrics allow local SMEs to compare the cost of acquiring new customers against the current product margins.
According to the Go Global website, the project revolves around SMEs because of the immense potential for growth, as SMEs comprise 99% of enterprises in Singapore.
“According to SingStat, Singapore’s GDP was over $3.9 billion in 2014. Unsurprisingly, exports from Singapore played a big role — total trade in 2014 stood at $982.7 billion, with total exports at $518.9 billion. At the same time, in terms of value added, SMEs contributed to nearly half (48%) of the country’s GDP,” stated the website.
Many Singapore heavyweights are supporting the project, such as SingPost, Rajah & Tann Singapore, CyberSource, RSM, Verztec, UOB, and UOB-SMU Asian Enterprise Institute.
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