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The Silicon Review Asia

Lazada Malaysia is funding SMEs through its new programme to promote digitalization of SMEs

Lazada Malaysia is funding SMEs through its new programme to promote digitalization of SMEs

Since the beginning of 2020, ecommerce has witnessed a massive surge in online transactions. Globally, the ecommerce landscape has completely changed due to the pandemic. Due to worldwide lockdown, the ecommerce segment has emerged as one of the biggest beneficiaries. Online shopping is part of the new normal, and many traditional/small businesses have gone digital with enormous support from the government. The internet economy will now surpass the initially set value before 2025. During the pandemic, Malaysian consumers have moved online for making all purchases. Ecommerce companies are now helping SMEs to embark on their digital journeys. Some of the assistance provided by them includes setting up stores on the ecommerce platform, digital marketing, training, and provision of loans. After digitalization, many SMEs have become successful online sellers.

Through its Pakej Kedai Pintar stimulus program, Lazada Malaysia has managed to bring about more than 17k SMEs online.  Leo Chow, CEO of Lazada Malaysia, has reported that the new program beneficiaries have access to their skill training stream and alternative funding by which they can avail microloans. The initiative was quite successful because the platform witnessed an overall growth of 110 percent. Furthermore, the CEO stated that Lazada would continue to boost the growth of micro-enterprises and local SMEs through their campaigns.

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