Souq.com calls on SMEs to set up shop online
It costs just 35 dirhams a month to run a virtual Souq Store
Souq.com is urging owners of small and medium enterprises to set up a virtual store using their platform instead of investing in a physical store in the country.
The firm says that setting up an online store on Souq.com saves owners the "hassles of initial capital investment, legal work and technology/physical infrastructure".
It costs just AED 35 (per month) to run a Souq Store. Owners however need to abide by certain terms and conditions including maintaining a minimum of ten simultaneous listings, offering a warranty of atleast 30 days on products and committing to handle customer disputes, and making sure their feedback rating is 98% positive or higher at all times, unless the business is one that is registered in the United Arab Emirates.
"Startups need solid technology platforms, technical assistance and market exposure to develop and grow their businesses", said Ronaldo Mouchawar, CEO of Souq.com. "We believe that we can address these needs and bring value to regional entrepreneurs, by providing fast and easy access to their products with no upfront costs and minimal eligibility requirements. Additionally, this will also provide start-ups with increased visibility to potential investors, clients and partners to help accelerate business success and thereby foster innovation and encourage entrepreneurship in the Middle East."
Souq.com, which was launched in 2005, now boasts more than 500,000 active buyers and sellers in the region, with over 1.5 million visitors to the site every month.