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June 20, 2023
A Beginner’s Guide to Starting Your Own Amazon Store
Are you ready to tap into the thriving eCommerce market in the UAE? Starting your own business on Amazon UAE is easier than you think. This beginner's guide will walk you through the essential steps to establish and grow your own successful Amazon store in the UAE. Step 1: Register as a Seller To get started, visit sellercentral.amazon.ae and click on "Register Now." This will take you to the registration page where you can create your account and provide the necessary information. Fill in your business details and choose a selling plan that suits your needs. Step 2: Product Listing Once your account is set up, it's time to list your products on Amazon. Take clear product photos that showcase your items in the best possible light. High-quality images are essential for attracting customers and increasing sales. Additionally, write compelling product descriptions that highlight the unique features and benefits of your products. Engaging descriptions will capture the attention of potential buyers and persuade them to make a purchase. Step 3: Set Pricing and Shipping Determining the right pricing strategy is crucial for the success of your Amazon store. Research the market and analyze your competitors to set competitive prices. Use the Amazon seller dashboard to monitor the prices of similar products and adjust yours accordingly. Additionally, choose your shipping options wisely. Decide whether you will handle shipping yourself or opt for Amazon's Fulfillment by Amazon (FBA) service, which takes care of storage, packaging, and shipping for you. Step 4: Promote Your Products Standing out from the competition is essential in the e-commerce world. To promote your products effectively, leverage social media platforms, sponsored ads, and other marketing tools. Build a strong online presence by creating engaging content and interacting with your target audience. Collaborate with influencers in your niche to reach a wider audience and generate more sales. Utilize Amazon's advertising features to increase visibility and drive traffic to your product listings. Step 5: Fulfill Orders and Provide Customer Service Once the orders start rolling in, it's crucial to deliver excellent customer service. Ensure fast and reliable shipping to provide a positive buying experience for your customers. Promptly respond to customer inquiries and reviews, addressing any concerns or issues they may have. Positive feedback and satisfied customers will contribute to the growth and success of your Amazon store. Step 6: Grow Your Business To sustain and expand your business, it's essential to continuously monitor your sales performance and customer feedback. Analyze data and identify trends to make informed decisions. Adjust your pricing, marketing strategies, and product offerings based on customer preferences and market demands. Consider expanding your product catalog to cater to a broader customer base. The key to long-term success is adapting and evolving with the ever-changing e-commerce landscape. You can also leverage financing from eFunder.ai and execute your growth plans without any financial stress – apply with eFunder.ai here (form). Starting your own Amazon store in the UAE offers tremendous opportunities in the thriving eCommerce market. By following the steps outlined in this beginner's guide, you can establish a strong foundation and set yourself up for success. Register as a seller, list your products, set competitive prices, promote effectively, provide excellent customer service, and continuously grow your business. Take advantage of the vast potential offered by Amazon UAE and begin your entrepreneurial journey today. Visit sellercentral.amazon.ae to begin your journey and tap into the vast potential of the e-commerce market in the UAE. Frequently Asked Questions (FAQs) Do I need a trade license to sell on Amazon UAE? Yes, to register as a seller on Amazon UAE, you will need a valid trade license issued by the relevant authorities in the UAE. You may get started as an individual account but as per UAE laws, you would require to obtain an e-Commerce license. Can I sell internationally on Amazon UAE? Yes, you can expand your reach and sell internationally through Amazon's Global Selling program. It allows you to list and sell your products in multiple countries. What are the fees associated with selling on Amazon UAE? Amazon charges various fees, including referral fees, closing fees, and subscription fees based on the selling plan you choose. It's important to understand the fee structure before setting your prices. Is it necessary to use Amazon's Fulfillment by Amazon (FBA) service? No, it's not mandatory to use FBA. You have the option to fulfill orders yourself, but FBA can simplify logistics and provide a better customer experience. How can I optimize my product listings for better visibility? Optimize your product listings by including relevant keywords in the title, bullet points, and description. Use high-quality images and provide accurate product information to improve search rankings. If you need further information, please feel free to reach out to sales@efunder.ai About eFunder.ai If you're operating an eCommerce business and seeking financial assistance to fuel your growth, don't hesitate to get in touch with us by filling out our form. If you know of anyone else who could use our services, refer them to us by sending an email to sales@efunder.ai and you can receive an AED 500 referral bonus as a token of our gratitude.
June 8, 2023
Serving Up Growth: Combining AI and Social Media Strategies for Your Online Restaurant
The online restaurant business is a fast-growing and competitive industry that requires constant innovation and adaptation to meet customer expectations and preferences. It is not an exaggeration to say that AI is a driving force in today’s competitive world. While the technology has penetrated almost all industries and sectors, online restaurant businesses have not failed to leverage its benefits. AI for online restaurants – the need of the hour Artificial intelligence (AI) is transforming most businesses, and online restaurants are no exception. Restaurateurs can use AI to optimize their online digital menus, prices, and delivery routes; additionally, the same technology is also used for improving customer service and building reasonable marketing strategies. AI can also enable online restaurants to offer personalized feedback, recommendations, and loyalty programs. Restaurant owners can also reduce food waste by predicting demand and regulating supply accordingly. There are tools to improve the efficiency and productivity of online staff using certain software, it is now possible to automate repetitive tasks and provide insights and guidance. AI can aid various aspects across restaurant businesses, such as: Menu design and optimization AI can analyze customer data, such as order history, feedback, ratings, and preferences, to create personalized and dynamic menus that suit different tastes, occasions, and dietary requirements. Artificial Intelligence can also optimize the menu layout, pricing, and promotions to maximize customer satisfaction and revenue. Customer service and engagement AI can enhance customer service and engagement by providing chatbots, voice assistants, and virtual agents that can answer queries, provide recommendations, take orders, and handle complaints. The advanced technology uses natural language processing and sentiment analysis to understand customer emotions and tailor communication accordingly. Delivery and logistics AI-enabled tools can optimize delivery and logistics by using machine learning and computer vision to predict demand, plan routes, track orders, and monitor traffic conditions. Recently, local governments are also approving the use of drones and autonomous vehicles to deliver food faster and more safely. Kitchen management and operations AI can improve kitchen management and operations by using sensors, cameras, and robots to monitor inventory, food quality, hygiene, and safety. Various tools are available to utilize data analytics and produce a foolproof estimation and forecast to optimize food production and thus reduce food spoilage/waste. Marketing experts use the latest technology for online restaurant businesses to gain a competitive edge by producing and managing food dishes in exact quantities for specific demands; nevertheless, online restaurant businesses need to ensure that their use of AI technology is ethical, accountable, and aligned with their values and mission. Legal and regulatory compliance Another concern addressed through AI in the restaurant business is handling legal and regulatory challenges which include data protection, taxation, liability, intellectual property rights, and labor laws. Restaurant businesses need to comply with the specific laws and regulations set by authorized bodies in their jurisdiction and market. The role of AI in building social media strategies Various features of Artificial Intelligence can help restaurant businesses create personalized content, monitor patrons’ feedback, optimize advertisement drives, and get influencers on board. Here are some of the benefits of using AI in social media strategies for online restaurant businesses: Personalized content: Artificial Intelligence can analyze customer preferences, behavior, and sentiment to generate relevant and engaging content for different segments of the audience. For example, AI can create captions, hashtags, images, and videos that match the tone and style of the brand and the target customers. For instance, Flick's AI Social Media Assistant is a marketing tool to brainstorm and write planning processes for social media. You can build original and engaging content by simply suggesting topics of your choice. Customer feedback: AI tools help online restaurant businesses to track and respond to customer feedback on social media platforms. With the use of NLP (natural language processing) and behavior analysis, AI tools can understand the moods of patrons and make a foolproof business strategy to implement in the coming times. Restaurant owners, with AI, can provide automated responses or suggestions to address customer queries or complaints instantly. Advertisement drives: Using AI-backed strategies, restaurateurs can boost their online restaurant businesses by optimizing their ad campaigns on social media platforms. Various tools are available to provide the best plan carried out based on customer data, behavior patterns, feedback, and market trends. Several formats of ads can be generated through AI tools, and with a creative and strategic approach, ad drives are made more effective and fruitful; say, for example, Locobuzz enables you to have foolproof analytics with advanced sentiment analysis and insight-reporting tool to craft a user-centric social media campaign of all kinds. About eFunder.ai Are you a restaurant looking for financing to accelerate your growth? Reach out to us by filling out the form. You can also refer someone who might need our services and avail of AED 500 as a referral bonus.
May 2, 2023
Can Chat GPT help eCommerce brands change their Business Growth?
Amid the global pandemic, the eCommerce industry has grown significantly and is now playing a much more significant role in our daily routine lives. However, eCommerce firms face intense competition in serving quality and seamless customer experiences. Therefore, developing unique strategies to stand out in the crowded industry is critical. Here's where Chat GPT steps in as a linguistic model. It has the power to revolutionize how eCommerce companies can engage with consumers and expand their businesses by offering superior value and experience to customers. What is Chat GPT? Open AI introduced Chat GPT as a chatbot in November 2022. Generative Pre-trained Transformer is referred to as GPT. Built on top of the GPT-3.5 family of big language models from Open AI, Chat GPT is enhanced using supervised and reinforcement learning approaches. It is a potent, cutting-edge tool for creating a language that chatbots and other conversational AI applications may use. Additionally, according to Open AI, GPT-4 is successful at several "meta-learning" tasks. Several GPT-3 and similar descendants have been created. How can Chat GPT help eCommerce Brands? Personalized client experience The capacity of Chat GPT to offer individualized customer experiences is one of its main benefits. Chat GPT can produce unique responses and recommendations by examining client data and behavior, giving each customer a unique experience. This can aid e-commerce businesses in strengthening their bond with customers and fostering greater client loyalty. Enhanced client services Successful eCommerce depends on providing excellent customer service. Virtual assistants and chatbots that can respond to consumer questions and complaints in real time can be built with Chat GPT. This saves time and resources and guarantees that clients get responses right away, which leads to a high degree of customer satisfaction. Enhanced product discovery Chat GPT can also improve product discovery by making tailored recommendations to clients. Chat GPT can produce recommendations based on a customer's interests, previous purchases, and browsing history by examining user data and behavior. Higher revenues and better client retention may result from this. Automation of sales and marketing tasks. Additionally, Chat GPT can be used to automate sales and marketing procedures. It can be used, for instance, to develop chatbots for lead generation, customer acquisition, upselling, and cross-selling. This guarantees that the sales process is streamlined and effective while saving time and money. Conclusion Finally, Chat GPT can change how eCommerce companies engage with their clients and expand their business. Chat GPT can help eCommerce firms stand out in the competitive market and increase customer satisfaction and retention through the provision of personalized customer experiences and the automation of marketing and sales operations. As technology develops, we may anticipate seeing ever more creative applications of Chat GPT in the eCommerce industry. Seamlessly Grow Your Business with eFunder's Hassle-Free Financing Interface. eFunder.ai offers digital financing options to small and medium-sized businesses (SMEs) to support their expansion and scalability. To provide its consumers with a fluid and trouble-free interface, eFunder.ai uses the most recent integrated technologies. The business takes great satisfaction in its dependable, adaptable, and scalable solutions that give its users complete transparency. For SMEs looking to boost their business goals and achieve financial freedom, eFunder.ai offers uniquely crafted funding solutions that prioritize prudent financial planning. The company's cash flow funding solution is particularly noteworthy for its ability to provide unrivaled financial independence to its users. Suppose you would like to understand eFunder's funding solutions better and explore how they can positively impact your business. In that case, we encourage you to contact eFunder.ai using the provided email address. Our financial experts will be more than happy to assist you in identifying the funding options that align with your business objectives and financial goals. We are committed to providing our clients with tailored and practical financing solutions designed to enhance their business growth and scalability. Don't hesitate to contact us for a seamless and hassle-free experience as you take your business to the next level.
May 2, 2023
Navigating the most significant economic hurdles in eCommerce: strategies for brand survival
The eCommerce industry's rapid growth has transformed how businesses operate and communicate with their customers. With the increasing shift towards online shopping, eCommerce businesses have experienced unprecedented growth in recent years. However, this growth has also brought some significant economic hurdles that businesses must navigate to remain competitive. These hurdles can include challenges such as cash flow management, inventory optimization, cost of customer acquisition, fraud prevention, and returns management. To secure their position in the intensely competitive eCommerce industry, businesses must devise solutions to surmount the financial obstacles encountered in their operations. To explore this matter in greater depth, let us delve into the specific challenges businesses face and the strategies they can employ to address these concerns. Cash flow management is one of the biggest obstacles in eCommerce. For eCommerce businesses, cash flow management can be a major challenge. One of the primary issues such companies face is long payment cycles, which can adversely impact their financial liquidity. This can be particularly problematic for small businesses that need more resources. E-commerce companies can employ various strategies to mitigate the risks associated with long payment cycles. For example, offering early payment discounts or negotiating shorter payment terms with suppliers can help businesses to manage their cash flow more effectively. By adopting such measures, eCommerce companies can reduce their exposure to financial risks and maintain a healthy cash flow. Inventory management is another financial challenge for eCommerce. Effective inventory management is a critical aspect of financial management in eCommerce businesses. Companies must balance the cost of maintaining inventory against the risk of stockouts, which can impact customer satisfaction and ultimately lead to a loss of revenue. One way to address this challenge is by leveraging a reliable inventory management system to help businesses optimize their inventory levels and minimize the costs associated with overstocking or stockouts. E-commerce businesses can further reduce their inventory holding costs by adopting a just-in-time inventory strategy. This approach involves ordering inventory only when needed for production or sale, thereby minimizing the amount of capital tied up in inventory. By implementing these inventory management strategies, eCommerce companies can streamline operations, reduce expenses, and enhance their overall financial health. The cost of customer acquisition is another major challenge that eCommerce businesses must face. Online businesses face fierce competition nowadays, and gaining new clients may be expensive. Businesses can lower their customer acquisition costs by using retargeting advertisements, referral marketing initiatives, social media and email marketing campaigns, and referral marketing programs to connect with potential consumers. In eCommerce, fraud is also a huge financial risk; therefore, businesses must take precautions to guard against it. Businesses that operate online are susceptible to fraud, which can lead to large financial losses. Companies can use several procedures to reduce this risk, including two-factor authentication, fraud detection software, and manual order scrutiny. The login process becomes more secure with two-factor authentication, which lowers the possibility of unauthorized access. Businesses can identify suspicious activity and stop fraudulent transactions from happening with the aid of fraud detection software. To avoid processing fraudulent purchases, manual order inspection entails reviewing orders for warning signs like odd shipping or billing addresses. eCommerce companies can protect themselves from potential financial losses caused by fraudulent actions by putting these precautions in place. Finally, handling the costs incurred by returns can be a significant obstacle for eCommerce enterprises. Customers expect a hassle-free returns process, but processing returns can be costly for businesses. Implementing a returns policy that balances customer satisfaction with cost management is essential for eCommerce businesses. In conclusion, navigating the economic obstacles of eCommerce can be challenging, but businesses can adopt strategies to overcome these challenges and ensure their survival in the market. Effective cash flow management, inventory optimization, customer acquisition cost reduction, fraud prevention, and returns management policies can help eCommerce businesses stay competitive and thrive in the ever-evolving online market. Tailored financing solutions for SMEs: Explore eFunder's cutting-edge lending services eFunder.ai strives to provide customized financing solutions specifically designed to help small and medium enterprises (SMEs) expand and expand. By leveraging the latest integrated technology, eFunder.ai delivers customers a seamless and hassle-free lending experience. In addition to this, eFunder.ai takes great pride in ensuring absolute transparency across all its platforms, which are built to be robust, flexible, and scalable. To gain further insight into these innovative lending solutions and to secure financing through digital lending methods, interested parties may contact eFunder.ai via their official website or email sales@efunder.ai.
March 24, 2023
How Digital Financing Can Help SMEs Thrive During Ramadan
Ramadan is a holy month observed by Muslims worldwide, in which Muslims come together, fast and use this time to reflect, as well as increase acts of worship. This period presents a unique opportunity for small, and medium-sized enterprises (SMEs) to engage with their customers and promote their products and services. By leveraging digital financing, SMEs can take advantage of the increasing trend of online shopping and digital payment platforms, making it easier for customers to find and purchase their products. This also allows SMEs to expand their reach to a wider audience, including those who may not be able to visit their store. Fortunately, the rise of digital financing has provided SMEs with a valuable tool to help them thrive during this period. Here are some of the keyways that digital financing can benefit SMEs during Ramadan: Enhanced Efficiency Digital financing presents SMEs with a more efficient way of managing their finances. By using digital tools and platforms, SMEs can streamline their financial processes, reduce paperwork, and eliminate manual data entry. This can help SMEs to save time and money, while also enabling them to focus on more strategic business activities. Overcoming Challenges Digital financing can also help SMEs overcome challenges they may face during Ramadan, such as decreased foot traffic and reduced working hours. By promoting their products and services on digital platforms, SMEs can continue to reach customers even when their stores are closed. They can also use digital marketing strategies, such as social media advertising and email marketing, to increase their visibility and attract more customers. Better Cashflows and Inventory Moreover, digital financing can help SMEs better manage their cash flow and inventory during Ramadan. By using digital payment platforms, SMEs can receive payments faster and more securely, which can help improve their cash flow. Digital inventory management systems can be implemented to track stock levels and ensure they have enough inventory to meet demand during the busy Ramadan period. Customized solutions Digital financing solutions can be further customized to meet the unique needs of SMEs during Ramadan. For example, some digital financing providers offer short-term financing options to help SMEs manage their cash flow during the holy month. This type of financing can be used to purchase inventory or equipment, pay salaries or rent, or invest in marketing and advertising campaigns. Invoice financing Another digital financing solution that SMEs can benefit from is invoice financing. This type of financing allows SMEs to receive payment for their invoices upfront, rather than waiting for their customers to pay them. This can help improve their cash flow and ensure that they have the funds they need to operate during Ramadan and beyond. Why eFunder.ai At eFunder.ai, our goal is to provide digital financing solutions that are specifically designed to help small and medium-sized enterprises (SMEs) grow and scale their business. We understand the challenges that SMEs face when it comes to accessing financing, and we strive to offer a seamless and hassle-free interface which makes it easy for our customers to access the funding they need to achieve their business goals. One of the key advantages of partnering with eFunder.ai is the use of the latest integrated technology that we offer. This enables us to provide a streamlined and efficient financing process, making it easy for our customers to receive the funding they need in a timely manner. We also believe in complete transparency across all our platforms. Our systems are robust, flexible, and scalable, allowing us to provide our customers with the highest levels of service and support. Whether you are looking to access, or any other type of funding solution, we have the expertise and experience to help you achieve your business financial goals. If you have any queries or questions, please do not hesitate to get in touch with us. We are always here to assist you and provide you with the information and support you need. Email id: sales@efunder.ai Mobile Number: +97126810985
March 10, 2023
eFunder.ai and Mamo Pay: Simplifying Financing and Payments for Businesses
We are excited to announce our partnership with Mamo Pay, the DFSA-regulated payment provider that allows businesses to collect money instantly and securely. This partnership allows eFunder.ai users to access financing solutions through our platform, based on their pay-outs generated through the Mamo Pay payment gateway. By receiving four weeks' worth of your future sales in advance, you can generate consistent cash flows and scale up your business to new heights. To celebrate this partnership, eFunder.ai is offering an exclusive promotion for Mamo Pay customers. Sign up with eFunder.ai using the promo code “MAMOFUND” and receive a 10% discount on pricing. This offer is available for a limited time only, so apply today to get the funds you need to accelerate your business growth. Mamo Pay for Business users can also benefit from this partnership. For a limited time, Mamo Pay for Business’ highest tier - Premium - is available to eFunder.ai users free of charge for two months. Simply enter the code “EFUNDER” while registering and experience an optimized business payment portal without the stress of set up costs, deposits, or complex gateways. We are committed to being your financial partner of choice, and this partnership with Mamo Pay is just another step towards providing you with the best solutions tailored to your business needs. Our aim is to help you unlock your business growth, and we believe that this partnership will enable us to do just that. Sign up with eFunder.ai and Mamo Pay for Business today to experience simpler, faster, and friendlier payments.
March 9, 2023
eFunder.ai Insights Episode 2: Meet the Founders!
In the second episode of eFunder’s podcast, the CEO and Co-founders discussed eFunder’s background, goals, value proposition, and future plans. The company aims to provide unique value propositions to its clients and plans to expand internationally while investing in the revenue of SMEs. They also plan to evolve their tech platform to be more automated and scalable. The founders describe their journey as inspiring and advise new entrepreneurs to start with a prototype, get a team, and manage their time efficiently. The founders of eFunder.ai include Mr. Deepak, CEO & Founder, who has 14 years of experience in investment banking and observed a lack of financing options for small and medium merchants in the e-commerce industry. [LinkedIn Profile] Mr. Dhanush, also a Co-founder, started in accounting and audit, banking, investment and private equity, and observed supply chain finance as a major theme. According to Mr. Dhanush by plugging into larger ecosystems, the suppliers can be benefitted instantly. [LinkedIn Profile] Mr. Sidharth, Head of Production Development, has over 12 years of experience in digital product management and is currently handling operations. [LinkedIn Profile] eFunder's goal is to become a standard across banks, enabling transformation and paving the way for how SME financing is done. The company plans to automate the entire cycle while monitoring on a real-time basis and building appropriate credit decisions. They aim to invest in SMEs revenue and boost their growth while unlocking the ways in which they want to do business. The company plans to expand internationally and in different product categories while offering a full 360-degree ecosystem to understand customers' businesses holistically in a more efficient manner. In conclusion, eFunder.ai is a promising company that aims to provide accessible financing options for small and medium-sized businesses in the e-commerce industry. The company’s focus on leveraging technology to streamline the financing process, is indicative of its strong commitment to the future.
February 8, 2023
Traditional Financing vs Digital Financing – The Current Global Perspective
The global lending landscape has undergone tremendous changes in the past decade. Earlier, banks, small business loans, angel investors, venture capitalists, and grants were the few traditional ways in which one could acquire finance for their businesses and projects. However, today, with digital finance and lending technologies taking the lead, the efficiency in lending had improved considerably. Fintech businesses have realised the far-reaching benefits and deep impact of digital finance and have since then invested heavily in developing AI, Machine Learning, mobile applications, financial social network platforms, cloud computing, distributed ledger technology along with data analytics. Today, financial transactions and interactions between two or more institutions are performed instantly in real-time just by using just a mobile phone. Digital Financing – Paving the way for complete, global financial inclusion Globally, the digitalization of the financial industry has helped promote financial inclusion. Such development had enabled the means to address the problem related to financial despairs in emerging and developing economies. With new technologies like blockchain creating waves, the regulatory aspect of digital financing is also going to be much more transparent across all platforms. This also makes lending easy, even for small financial institutions as they can collaborate with bigger institutions and be a part of the financial inclusion framework. In the end, the common man has much quicker, easier, and more reliable access to financial services and advice with digital finance. Since digital finance can acquire and process huge amounts of information almost instantly without the dissemination of cross-spatial information under low costs, the lending reach of any financial institution increases manifold without geographical locations. It has also helped in solving the pain points of traditional finance systems and thus bridging the gap between investors, lenders, and borrowers. A step towards efficiency and sustainability with digital lending As digital technology continues to evolve, the reluctance to lend money to the low-income and remote populace has been erased significantly. Today, financial services are not just limited to traditional financial services like banks, savings, stock trading, etc. Instead, SMEs and MSMEs are taking the world by storm with technological advances with timely access to digital financing services without geographical and logistical constraints. The number of users covered by digital lending is increasing daily as technology acts as an enabler for accessing instant finance. With the online access and verification process, the traditional method of physically visiting a financing institute, applying for a loan, and waiting for approval is slowly dying down. With instant eligibility and credit checks, finance is available with better reach for the long-tail customer, which otherwise goes overlooked by traditional financing operations, all the while reducing the operational costs for the lending business. Digital lending is thus enabling sustainability and financial stability with high efficiency for the end user at both ends of the financial spectrum. Summing it up With the awareness of digital lending spreading across emerging economies, the global lending landscape is changing. Many countries are successfully adopting digital technologies to provide robust frameworks to include people from all income groups to improve their lives and in turn their growing economies. eFunder.ai – Your one stop lending solution! eFunder.ai aims to provide digital financing solutions that are tailored to grow and scale the businesses for SMEs. It offers latest integrated technology to provide a seamless, hassle-free interface to the customers. E funder offers absolute transparency across all their platforms which are robust, flexible and scalable. To know more about such developments and also to acquire financing through digital lending methods, write to us at sales@efunder.ai or get in touch on our number +97126810985 today.
January 17, 2023
eFunder.ai Insights Episode 1: 2023 Outlook for SMEs
A web series introduced to help SMEs navigate the changing world environment and help them grow their business. In Conversation with Mr. Charbel Merhej – Data Scientist at eFunder.ai - Risk Management and Analysis by our host, Mr. Ronald Michael, Business Development Manager. Understanding the eCommerce Industry in UAE and the growth in 2023! eCommerce industry in UAE have gown pretty fast. It’s been observed that the markets have been more resilient in 2023, especially for the e-commerce industry in UAE. The current GDP of UAE stands at 5% and there is an expected growth of 4.2% in fiscal 2023. The Government is also playing a major role by supporting and offering investments to entrepreneurs and business owners. The UAE government has been working to offer various platforms and introducing initiatives to help MSMEs further scale up their business to newer heights. What Risk Analysis mean for SME! By Definition, SME Risk means the chance for SME to get hit financially due to any unexpected events. Risk analysis provides SMEs with a comprehensive information on how well they can handle unprecedented situation, how well the SME is financially positioned, how sustainable is the business, understanding the financial future, how well the SME can repay their debt and what are the cash flows among others. Why it is important for the Business owners to be aware about risk analysis! It is an imperative stance, where business owners/entrepreneurs should be aware about the financial definition of their business. What is the capacity of debt the business can handle and how well the unfortunate situation can be managed. Risk Analysis can also help SMEs to stir clear of the regulatory and compliance issues. This may also help them in getting easy and quick financing. Risk Analysis plays a big role for SMEs as the idea is very simple – “The better you manage your risk, the easier it is to get financing”. Key things which SMEs needs to be prepared from risk perspective in 2023? Certain situations, which are not in our control, can be the cause of recession, however how it will hit is still unknown. Hence in such scenarios Diversification is key! Be it about sourcing raw material or investing or financing. UAE government is also willing to increase the Global trade, in next 5 to 10 years. If it fructifies, it will be a win-win situation. It’s always better to have more options and diversify the revenue. Inflation concerns! Since the inflation is so high, the banks and other financial institutions are also being picky in choosing the businesses for funding which could stand as a major challenge for eCommerce business. This could lead to higher employee cost, logistics cost etc. which will have a roll over effect on the cash flows. It is essential for SMEs to consider all these concerns into consideration. How SMEs can face the challenging times! SMEs should try to limit the damage, evaluate the financial health, optimize cash flows, avoid overstocking, optimize sales strategy, diversify funding and financing and take eFunder’s help! Adjusting according to the industry trend will also be useful. Comparative analysis and data analysis will also play a big role in analyzing the market trends . Enhanced customer service is another important aspect, that should be considered by SMEs. How eFunder.ai helps eCommerce business and what risk assessment is done, and why SMEs should use eFunder.ai services. eFunder.ai helps SMEs with detailed risk analysis on various parameters. This end-to-end and comprehensive assessment is performed on each merchant. Sales parameters are considered, operational parameters, eFunder.ai parameters (like profiling, history, and how well the SME is performing and impact, and trends and growth performance) are analyzed to understand the financial position of the SME. eFunder’s main goal is to provide the merchant with the faster access to the capital.Time is big advantage and Rates are friendlier as compared to other financial institutions. eFunder’s secure digital financing platform takes full control of the receivables and helps boosts the business growth. eFunder.ai provides capital exactly when you need it. Here’s why eFunder.ai is the best when you are considering your financing needs. eFunder.ai – Your Financial partner for growth!
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