Are SMEs Ready for the Economy of the Future?

Are you looking for a powerful change in the economy? Small and Medium Enterprises (SMEs) have gone past historical limitations, advancing with the correct application of the internet and virtual marketplaces. There are still some setbacks, but WeBuy is coming to the rescue!

Economic challenges confronting SME’s

Small and medium enterprises continue to be the units that build up the economy of a nation. In 2015, the EU-28’ transportation and storage services sector recorded about 1.1million SMEs in the region. This figure is equivalent to 5.1% of the non-financial business economy.

The SMEs in this sector employed over 10.8 million people with value added of about EUR 556.0 billion, which represented 7.9 % of those working in the non-financial business economy and 7.9 % of the wealth generated in the non-financial business economy. (“Transportation and storage statistics — NACE Rev. 2 — Statistics Explained”, 2019). Until now, they have been the least supported with fewer opportunities for growth in the economy.

Consider a local shoemaker, in a developing country, whose lack of publicity and aesthetic finishing skills would make the shoes less desirable. In the absence of administrative support, an enterprise such as this one will either run out of business, due to market competition, or continue surviving with fewer opportunities for growth.

Furthermore, in another industry, the subsistence farmer is constrained by the lack of buyers who would appreciate the food crops for its monetary value. Additionally, a high running cost, incurred from land cultivation, and especially the transportation of food crops to the direct market, further increases the investment cost. It lowers the price of food crops indirectly and results in a loss for the farmer.

For this reason, solving major constraints for the success of SMEs will necessitate a platform for businesses to thrive.

Limited access to the International Market

SMEs’ access to the international market is limited by several constraints such as financial and management structures. Also, the lack of information, marketing networks and the difficulties of managing relationships across borders are all considered barriers.

These constraints make futile efforts of SMEs to engage in business operations in the international market. The study by Rahman, Uddin & Lodorfos (2017), has identified limitations in entering foreign markets as key socio-economic barriers faced by SMEs in developing countries.

High business running cost

The cost of running a business refers to the cost incurred from infrastructure, manpower, utilities, and other overhead expenses. The local presence of businesses would make up for these expenses, which most times consumes the bulk of the money set aside for investment.

On the other hand, reaching out to the international market via the internet will eliminate these expenses, creating room for significant turnover and growth opportunities.

WeBuy’s Economic Solutions for SMEs

SMEs suffer frequent needs to break even and experience tremendous growth. Across the globe, platforms that have provided opportunities for sellers and buyers to exchange goods and services have thrived successfully.

WeBuy is the first on-demand advertising platform which will not only connect buyers and sellers together on the same platform, but will also create a profitable environment for both the buyer and the seller.

Amongst other benefits, WeBuy has strategically developed a platform to provide the following solutions:

Access to millions of buyers

There are superb incentives available for buyers that allow them to gain from advertising money spent by sellers, while sellers make sales at a low cost.

Access to market structure

The WeBuy platform is streamlined in such a way that both the buyer and the seller are able to maintain communications with each other in real-time.

Reduced running cost

With WeBuy, SMEs wouldn’t sustain costs from infrastructure and utility. This also eliminates or reduces to the barest minimum the number of employees depended upon to run the business.

Optimized two-way communication

WeBuy platform optimizes the communication between buyers and sellers. There is a real-time connection between the buyers and the sellers to facilitate increased lead generation, speed up decision making, cut transaction costs, and eliminate unwanted fees.

The success of WeBuy is certain considering the uniqueness of WeBuy in developing a win-win environment for both buyer and seller. The platform eliminates the need for advertisement agents with a new paradigm shift in communication favoring the buyers.

Get on board with WeBuy to effect this change!

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