Era of solo business ... Seller support services such as easy remittance and online stores gaining attention

The era of solo business has opened. According to the '2022 One-Person Creation Enterprise Survey' released by the Ministry of SMEs and Startups of South Korea in March, the number of one-person creation enterprises in Korea has more than doubled from the previous year to 917,365 (as of 2020). With the trend of online shopping continuing due to the development of the internet, mobile platforms, and payment technology, and the spread of 'N-job' culture, one-person businesses are naturally taking their place in the market, especially among the younger generation.

Therefore, services that help individual sellers easily sell goods, such as online stores and overseas payment and remittance services, are also gaining attention. Various platforms provide different promotions and solutions to support seller cultivation.

SentBe offers the corporate overseas payment and settlement service 'SentBiz.' SentBiz supports foreign exchange transactions for individual sellers who need overseas payment and remittance with about 70% lower fees than banks and remittances within a maximum of one day. One of its advantages is that it has no receipt or intermediary fees, and its exchange and fixed fees are low, unlike commercial banks.

In addition, SentBe provides the 'SentBiz API' solution, which targets both domestic companies and individual sellers who need overseas payment and settlement services, as well as global banks, overseas remittance companies, payment companies, and e-commerce platforms.

Naver has built a technology platform for easy entrepreneurship, called Smart Store, establishing the technological foundation of the digital entrepreneurship ecosystem. According to Naver's 'Digital Ecosystem Report' released last year, Smart Store showed an average annual growth rate of 37% until 2021 and had 510,000 Smart Stores as of 2022. Among domestic sellers in 2021, about 80% were small and medium-sized businesses.

Recently, Naver expanded its 'Brand Connect' service, which supports connections between creators and brands, to include those who operate Smart Stores, making it easier for small business owners operating Smart Stores to collaborate with Naver influencers. On the 7th, Naver also started a service called 'The Good Parcel' to alleviate logistics concerns for small business owners by collectively collecting products from Smart Store sellers based on regions.

Meanwhile, SSG.COM, an e-commerce affiliate of the Shinsegae Group, introduced a new seller growth program called 'Seller Growth Up' to support them with benefits such as advertising fees and sales achievement congratulatory funds.

First, for new partner companies that have contracted with the SSG.COM Advertising Center and agreed to receive advertising information, they provide benefits in the form of advertising expenses that can be used for CPC search ads displayed at the top of search result pages and AI recommendation ads.

In addition, when a new partner company achieves monthly sales above a certain level, it provides funds to congratulate on sales achievement. The support funds are paid to the account for payment settlement on the 20th of the month following the month of sales achievement. If the payment date falls on a legal holiday or weekend, it is paid on the next business day.

Published Chosun Biz in on April 24, 2023

Source: https://shorturl.at/euX38