Streamify AB becomes live shopping partner for SHOPLINE – Asia’s leading e-commerce platform

As the wheels of the economy continue to turn, small businesses remain the backbone of the UK's entrepreneurial landscape. However, starting or expanding a small business often comes with financial challenges. In 2023, small business owners in the UK have a valuable lifeline in the form of grants and small business funding. These grants offer a plethora of opportunities to access funds, resources, and expertise, propelling their growth and development. In this blog, we will delve into the world of UK grants for small businesses and how they can be a game-changer for startups and other businesses alike.

Benefits of Grants in Supporting Small Business Growth

By receiving grants, businesses gain enhanced credibility and market positioning, making them more attractive to customers and investors. Moreover, grants encourage innovation and competitiveness, propelling businesses to stay ahead of the curve and drive advancements in their respective industries. Here is a rundown on the common benefits most businesses enjoy when they receive grants.

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Financial Support: Grants act as a crucial source of funding for various aspects of a small business, including startup costs, expansions, research, and development. The financial boost they provide can be a lifeline for entrepreneurs looking to transform their ideas into reality.

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Access to Resources and Expertise: Beyond financial aid, regional grants in the UK often come with additional benefits, such as access to mentorship, training programs, and networking opportunities. These resources can help business owners enhance their skills and knowledge, positioning them for sustainable success.

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Enhanced Credibility and Market Positioning: Being a grant recipient adds credibility to a small business. It signals to customers, investors, and partners that the business has undergone scrutiny and been deemed worthy of support, making it more attractive in the market.

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Opportunity for Innovation and Competitiveness: Many grants are specifically designed to foster innovation and competitiveness in different sectors. By encouraging research and development, grants enable businesses to stay ahead of the curve, driving advancements in their industries.

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Types of Grants Available in the UK for Small Businesses:

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Government Grants and Funding Programs: The UK government, at both national and local levels, offers an array of grants and funding resources for small businesses. These schemes cover various aspects, from initial startup costs to expanding into new markets.

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Regional Grants and Initiatives: Local authorities and regional bodies often provide grants tailored to support businesses in specific areas. These grants take into account the unique challenges faced by businesses in different regions, fostering localised economic growth.

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Sector-Specific Grants: Some grants are sector-specific, targeting industries like technology, healthcare, agriculture, and more. These initiatives are designed to bolster innovation and growth within particular sectors.

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Grants for Research and Development: Encouraging R&D is a priority for many governments, and the UK is no exception. Small businesses engaged in research and innovation can find support through grants focused on advancing technology and knowledge.

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Grants for Sustainability and Environmental Initiatives: With a growing emphasis on sustainability, many grants are dedicated to helping small businesses adopt eco-friendly practices, supporting their journey towards becoming environmentally responsible enterprises.

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Key Small Business Grant Opportunities and Resources

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Specific Grant Opportunities and Resources in 2023

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Depending on the kind of business you have, compliance and your needs, you can apply for different grants in the UK.

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Government-Backed Grants and Schemes: The UK government offers several notable grant programs aimed at startups and small businesses. These include the Start Up Loan Scheme, Innovate UK grants, and the Enterprise Investment Scheme (EIS).

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Funding for Research and Innovation: For businesses focusing on research and innovation, bodies like the UK Research and Innovation (UKRI) provide funding opportunities and grants to drive technological advancements.

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Grants for Sustainability and Eco-Friendly Initiatives: Small businesses committed to environmental sustainability can explore grants offered by organisations like the Carbon Trust, which supports businesses in reducing their carbon footprint.

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Regional Grants and Initiatives: Local Enterprise Partnerships (LEPs) and regional development agencies provide a range of grants designed to uplift businesses in specific areas, addressing local needs and promoting growth.

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Business Support Organizations and Platforms: Numerous organisations and online platforms offer valuable information and guidance on available grants, helping small business owners navigate the funding landscape effectively.

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Examples of Well-Known Grants in UK for Specific Categories

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General Small Business Grants: The Federation of Small Businesses (FSB) and Small Business Grants UK are popular resources for general grant opportunities tailored to small businesses across various sectors.

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Corporate Grants: Some large corporations have grant programs supporting small businesses that align with their values and objectives. It's worth researching grants offered by companies operating in your industry.

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Grants for Women-Owned Businesses: Initiatives like the Women's Business Council and grants offered by organisations like NatWest's Back Her Business scheme focus on empowering women entrepreneurs.

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Grants for BIPOC-Owned Businesses: Certain organisations prioritise providing financial assistance to businesses owned by individuals from Black, Indigenous, and People of Color communities, such as the Black Business Growth Fund.

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Other Funding for Small Business Owners: In addition to grants, small business owners can explore other funding options like low-interest loans, angel investments, and crowdfunding platforms.

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How to Get a Small Business Grant in UK?

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Research and Identify Suitable Grants: Thoroughly research available grants and identify those that align with your business's objectives, sector, and location.

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Understand Eligibility Criteria and Requirements: Review the eligibility criteria and ensure your business meets all the necessary requirements before proceeding with the application.

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Develop a Compelling Grant Proposal: Craft a clear and compelling grant proposal that showcases your business's vision, potential impact, and how the grant will be utilised.

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Seek Professional Assistance and Support: If needed, consider seeking assistance from professionals, such as grant writers or business advisors, to enhance your application.

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Adhere to Application Deadlines and Follow Up: Missing application deadlines can result in missed opportunities, so mark important dates and submit your application well before the deadline. Additionally, follow up on your application's status if you don't hear back within the expected timeframe.

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The world of grants in the UK is ripe with opportunities waiting to be explored. Take charge of your business's growth and innovation by researching and applying for suitable grants today. Remember to visit reputable platforms and organisations for guidance on available grants and the application process.

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If you are considering starting an e-commerce platform, the SHOPLINE platform offers a free trial that might just be the boost your business needs. Check it out at https://uk.shopline.com/. Embrace the possibilities that grants bring, and watch your small business soar to new heights!

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SHOPLINE is recognised as Asia's leading modern commerce platform. Offering an extensive suite of native technologies, resources, and strategic partnerships, SHOPLINE is dedicated to empowering merchants to achieve success. With SHOPLINE, brands and retailers have access to robust omnichannel solutions encompassing ecommerce, social commerce, and point-of-sale.

On 5th October 2023, SHOPLINE held their first Re-Imagine Summit in London. At the summit a variety of topics were discussed from SHOPLINE’s vision to its product roadmap. A notable highlight was the panel discussion that featured industry experts Emma Jones from the DBT Department, Jennifer McCloskey from Google, Imran Khan from Meta, Lucia Pesce from Mastercard, and Pollyanna Ward from Flight Story. Their panel centred around global selling, and here are the key insights:

The Digital Revolution: The Dawn of AI and Social Commerce

We live in a mobile-centric era. Our smartphones aren't just communication devices but gateways to a vast digital universe, transforming how we search, interact, and most importantly, shop.

A key shift in this digital evolution is AI's influence. Meta’s announcement of integrating AI-centric tools into their global ad products highlights this very change. The introduction of the Meta Advantage Suite, an AI-fueled tool, streamlines the entire advertising spectrum, making the process more intuitive for marketers. 

For instance, the Meta Advantage+ Shopping channel has led to:

• A 32% surge in Return on Advertising Spend (ROAS)
• A 9% boost in cost-effectiveness in app campaigns

The dawn of AI in advertising paints a future where decisions are data-driven, strategies are outcome-focused, and scalability is a given. We transitioned from the age of space-buying – dominated by TV spots and posters – to a more dynamic programmatic era. 

It's not just about reaching the masses anymore; it's about reaching the right individual with the perfect message.

Decoding the Modern Shopper‍

In today's fast-paced, digitised world, understanding shoppers' expectations is paramount for any brand's success. The shoppers' experience is no longer linear or confined to a single platform – they expect seamless transitions.

“Frictionless shopping” is the key to creating an efficient, smooth, and hassle-free buying experience. This term refers to the streamlining of the buying process to remove any hiccups or barriers that might deter a customer from making a purchase. It's not just about technological integrations like one-click purchases or AI-powered recommendations. It's also about creating holistic experiences that blend the tangible world of brick-and-mortar stores with the convenience of digital shopping. 

Blending the realms of digital and physical offers shoppers the best of both worlds. Dubbed 'phygital experiences' these are not passing fads but the future of retail. With the advancement in AR technology, customers can now virtually "try on" products before purchasing. This blend of physical and digital gives customers a full experience, merging the realness of stores with online convenience.

‍The Digital Revolution Accelerated by COVID

The Covid-19 pandemic reshaped the landscape of digital commerce. It wasn't just about health and safety, it was also about security, convenience and choice. 

As the digital payment landscape rapidly transforms, Mastercard leans into AI, not just for advancements but as a means to safeguard consumers. With the rise of cyber threats, Mastercard has innovatively employed AI as a protective shield for shoppers. Beyond security, the emphasis is on enhancing the customer's journey, whether it's through accelerated checkouts or seamlessly integrating online and offline shopping experiences like shopping via WhatsApp. 

For businesses, it's not just about catching up anymore, it's about staying ahead. The message is clear: in the future of commerce, consumer-centricity, shaped by the triad of safety, convenience, and choice, reigns supreme.

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The Power of Short Form Video‍

The media landscape is continually evolving, and the rise of short-form video stands out. It's not merely a new format; it signifies a shift in how content is consumed and shared, presenting a dynamic mix of entertainment, personal connection, and new ways of discovery. 

Short form video isn't just about watching anymore, it's about participation, and platforms like Instagram’s Reel are at the forefront of this revolution. This format is more than passive consumption – it fosters active engagement, sharing, and personal connections.

Reels has seen its share explode over the last six months:

• People share about a billion Reels daily via WhatsApp and Messenger. 
• This surge in popularity means that 20% of time spent on Instagram is now dedicated to Reels with the platform showcasing around 140 billion Reels daily. 

The success stories around Reels are compelling. In some cases, brands have witnessed a 6x to 7x lift in brand recognition. Moreover, sales metrics have shot up by 9x when Reels are in the advertising mix. But it's not just about numbers. Reels ads have been highly performant, contributing to a whopping $3 billion run rate on Instagram and Facebook.

To conclude, SHOPLINE's Re-Imagine Summit shed light on the dynamic landscape of global selling touching on technology, primarily AI, emerging not just as a facilitator but as a revolutionary force. As brands try to navigate this rather complex terrain, the future is fairly clear – we need to understand the ever-evolving consumer, harness the power of emerging formats like short-form videos, and deliver seamless, enriched shopping experiences.

At SHOPLINE, we're honoured to play a role in the AI-driven transformation of the e-commerce sector. We take pride in empowering our local sellers by enhancing their business revenue with our intuitive and scalable solutions. The next era of e-commerce has arrived, and we stand prepared and excited for what's to come.

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Discover how SHOPLINE can elevate your business. Schedule a demo today: https://uk.shopline.com/enterprise

London, UK – 7th September 2023– SHOPLINE, the leading modern commerce platform, is delighted to announce the appointment of Ruo Yang as its new Chief Financial Officer. With a distinguished career spanning more than two decades in the technology sector, Ruo Yang brings a wealth of financial expertise to the company, and will be showcasing the company’s roadmap for global expansion along with exclusive announcements in London on October 5th, at Re-Imagine, the first modern commerce summit. This event will be hosted by SHOPLINE UK, and will take place at the historic Amazing Grace in London Bridge.

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Having played a pivotal role in shaping the financial strategy and growth of organisations across the US and Asia-Pacific region, Ruo Yang’s experience in senior financial leadership roles has made him an influential figure in the digital transformation industry. Ruo Yang’s journey to corporate CFO positions began after an 11-year tenure at Citigroup's Investment Banking Division from 2010 to 2021. During this time, he ascended to the role of Managing Director of Citigroup APAC TMT Investment Banking. His achievements as a tech investment banker facilitated technology companies across APAC to propel their growth initiatives, delivering exceptional results raising funds from the US and Hong Kong stock markets while providing valuable counsel on a wide spectrum of M&A transactions.

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"We will be thrilled to welcome Ruo Yang as Chief Financial Officer of SHOPLINE in person during our modern commerce summit in October," said Deepak Anand, General Manager at SHOPLINE UK. "His extensive experience in the technology sector and proven track record in financial leadership will be instrumental in driving our company's financial strategy and growth journey. We believe that Ruo’s expertise will be a valuable asset as we continue to innovate and expand our e-commerce platform as the leading modern commerce solution for enterprise retailers and brands." 

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On joining SHOPLINE, Ruo Yang added, "I am honoured to join SHOPLINE as Chief Financial Officer. This is an exciting time for the company, and I look forward to leveraging my experience to contribute to its continued success. The access to technology and talent in London make the ideal base from which to roll out SHOPLINE’s next phase of its global expansion strategy while scaling its vision in line with the huge opportunities and expectations of the digital commerce industry. I very much look forward to attending the Re-Imagine summit in London to connect with the executive team and to share our long-term, sustainable growth vision.” 

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Ruo Yang’s appointment marks a significant milestone for the global SHOPLINE brand as it continues to strengthen its position in the e-commerce industry. His vision, strategic insights, and financial stewardship incorporates SHOPLINE as the premier choice for sellers seeking success through high-growth channels, and for those aspiring to reach a broader audience with unparalleled customer experiences.

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