How joining online trade platforms can help SMEs to mitigate the risks involved
Small and medium-sized enterprises (SMEs) that are trying to expand their wings further and grow can derive a great amount of benefit through online trade portals. Digitalization is inevitable now in every sector and it will only gain momentum. Those who enjoy the advantages of these services might just strut around in the market showing off their intelligence. Funny right? Though it would be good to see something like this actually happening, don’t you think? 😉
To start with, such online marketplaces help businesses to showcase their products on a platform where international buyers, international shipping companies, and manufacturing companies are present. Starting a new e-commerce website from the scratch would incur a lot of costs which are reduced by the presence of these platforms. Also, because of the parties involved on this platform, it allows you to choose and connect with the right partner and not waste time otherwise.
Most of such platforms assess all the buyers and sellers that register and check for their credibility and trustworthiness through their scoring system and past transactions. Therefore, it’s easier for the new user to be assured that verified traders would be involved. Along with all these safety measures, online trading platforms put a lot of focus on the security of transactions through blockchain technology and by holding the payments in escrow accounts till the goods are delivered. This ensures that all the parties involved feel secure and satisfied at the end.
Battling with the COVID-19 headwinds for more than a year now also has made SMEs realize that it is very risky to depend on the same suppliers and manufacturers, thereby posing the need to proactively look for alternate sources and form new connections. Online trade platforms aid such enterprises in diversifying their revenue streams and safeguard the parties involved.
Positive feedback from your clients also helps in beating the competition which is being showcased on these online platforms. This enables the new buyer or supplier to decide without much effort.
In essence, it is always easier and beneficial for SMEs to manage their business online and make it profitable through such online trading platforms. These e-commerce platforms help in making business connections among verified parties, avoiding fraud cases, and over the time making partnerships that cement their status. It is a must for SMEs to exploit such services and take advantage of such online platforms for connecting with the right people, growing and mitigating the risks involved in the trade.
If you are looking for such a safe and secure online platform to make your company grow and reach new heights, discover thousands of potential buyers and sellers; Koytola is there to cater to your needs and help you. We are always happy to help.