Leading B2B e-commerce platform celebrates results from Fiscal Year 2023 and continues to offer comprehensive solutions for MSMEs to seamlessly participate in global B2B trade
NEW YORK, June 27, 2023 /PRNewswire/ -- Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce and part of Alibaba International Digital Commerce Group (AIDC), today celebrates Micro-, Small and Medium-Sized Enterprise (MSME) Day, first designated six years ago by the United Nations to honor the crucial role played by MSMEs in achieving the UN Sustainable Development Goals and the contributions of MSMEs to the global economy.
"MSMEs are the backbone of many economies worldwide, and Alibaba.com's efforts to help them connect and trade globally are significant," said Annabel Sykes, E-commerce and SME digital transformation advisor at the International Trade Center (ITC), in a recent webinar session with Alibaba.com. "The digitalization of trade is a game-changer and can help MSMEs tap into new markets and grow their businesses. Alibaba.com is a strong partner in this journey."
Helping MSMEs access global supply chains and become micro-global companies
During FY2023 (April 2022-March 2023), Alibaba.com brought together more than 40 million MSMEs worldwide, creating an extensive network of buyers and sellers. This enabled a substantial portion of these MSMEs to evolve into micro-global enterprises.
"About 80-90% of my sales on Alibaba.com are allowing other global businesses create private labels for resale elsewhere – enabling me to reach businesses beyond the U.S.," says Shirley Cheung, founder of Envydeal, a manufacturing and distribution/wholesale business in the U.S. that uses Alibaba.com as a platform for developing long-term relationships with customers. "When I first founded my business, I initially thought I would create a B2C (business-to-consumer) supplement business, but quickly realized my primary strengths in business were in creating a successful B2B operation by leveraging Alibaba.com's global tools."
Giving MSMEs an added layer of security when sourcing global products
Alibaba.com's Trade Assurance service has safeguarded over 16 million orders globally, protecting each stage of the purchase process when buyers transact and make payments on Alibaba.com. Trade Assurance is a free-to-use service Alibaba.com provides to MSMEs using their platform for sourcing, designed to help foster trust between buyers and suppliers. The escrow service, in particular, offers MSMEs security and peace of mind during a period of time in which many small businesses are facing challenges from disruptions to their global supply chain.
Helping MSMEs transact globally by breaking the language barrier in B2B trade
Alibaba.com's "LIVE" function, which enables buyers and suppliers to interact in real time despite language barriers, is an increasingly important tool for MSMEs to transact efficiently and effectively. "LIVE" viewers in German, French, Spanish, Portuguese, Italian and Arabic increased by 166% year-on-year in March 2023 – a clear indicator that direct communication is gaining momentum in global B2B sourcing.
As a global procurement hub, to better facilitate communication, Alibaba.com has also rolled out real-time auto translation for 13 languages when buyers and sellers communicate in the chat box function of the app and website.
Offering MSMEs direct support through the Manifest Grants Program
Since its launch in 2021, the Alibaba.com Manifest Grants Program has attracted more than 27,000 applications from start-up business owners – 69% women, 90% BIPOC (Black Indigenous and People of Color）and 12% people with disabilities. As part of the Manifest Grants Program, Alibaba.com has provided dozens of small businesses with a total of $1.25 million in financing and logistics service support. Alibaba.com also equips MSMEs with the necessary tools, resources and guides to be successful, and has offered a robust curriculum of live and recorded professional seminars to help MSMEs grow into more impactful and sustainable businesses.
"Alibaba.com has been instrumental in our journey and in meeting our goal of simplifying the sourcing process so we can focus on product innovation and business success," said Amanat Anand, founder of SoaPen and one of 50 recipients of the 2022 Alibaba.com Manifest Grants Program. "In our second year of sales, we have been able to build a robust business by pinpointing the right sourcing partners. My advice to entrepreneurs and MSMEs seeking to grow is that embracing the right platform can truly revolutionize previously complex and time-consuming tasks to scale your business with world-class operational efficiency."
For more information regarding Alibaba.com and its resources for MSMEs or to set up a press interview, please contact Alibaba@FINNPartners.com.
About Alibaba.com
Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 190 countries and regions around the world. It is engaged in services covering all aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. Alibaba.com is part of Alibaba International Digital Commerce Group.
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SOURCE Alibaba.com
