Daraz initiates seller stimulus program to revive Lankan SMEs

Saturday, 2 May 2020 01:46 - - {{hitsCtrl.values.hits}}

Commits to business support worth Rs. 30 m for small and medium sellers
Sellers via Daraz will not be charged sale commissions for 2 months
Will have access to sale revenues directly to their banks within least number of days

Recognising the need of the hour to support the SME sector, Daraz Sri Lanka has initiated their seller stimulus program under the theme of Eksathwa Shakthimathwa, drawing from the need to stand together and support each other at the face of this adversity that has affected industries across all categories.

The seller stimulus program will offer SMEs financial and business incentives along with marketing and promotional support to continue their selling and boost cash flow. This unique program by Daraz will help locals to understand the logic of ‘How to sell online in Sri Lanka’ and start up their small businesses locally. The platform invites local sellers to bring their businesses online where Daraz will provide a subsidy worth Rs. 30 million under several methods.

Daraz sellers will not be charged the sales commission for a period of two months. Sellers will also have access to their sale revenues directly through their banks within the least number of days, through an expedited process.

In addition, businesses will have free access to education and training in Daraz University, thereby speeding up the process of setting up shop and starting to sell on the platform. Daraz will also waive off all charges on packaging material during this period, further lowering the costs for sellers.

“We see the dire need for the SME sector to restart business operations as soon as possible, while adhering to the due safety measures. Transferring to an online platform is the most suitable method at this point, and we at Daraz, as the largest online marketplace in the country, feel it is our responsibility to lead this initiative and support the sector,” commented Daraz Sri Lanka Managing Director Rakhil Fernando.

Daraz said that with the uncertainty of the social and economic situations in the country due to COVID-19, businesses are severely affected with a larger impact on the small and medium enterprises. Although essential services continue, the 500,000-plus-strong SME sector of Sri Lanka includes industries other than those categorised under ‘essential services’.

The lack of a platform to continue such businesses predicts a serious impact on the long-term sustainability of a category that contributes to around 52% of the GDP. This seller stimulus program under the theme of Eksathwa Shakthimathwa gives a great opportunity to the local Sri Lankans to initiate their small businesses by selling high demand items like grocery items, mobile phones, laptops, home appliances, kitchen appliances, fridge, A/Cs, water dispensers, mother and baby products, and even more products on Daraz LK. In order to know more about Daraz initiates, follow the Daraz Sri Lanka official blog and keep yourself up to date.