B2B platforms give firms new trade lifeline

Tradegood aims to schedule and organize about 1,000 business matching events annually to enable buyers and suppliers to have the opportunity to discuss their ideas and find appropriate business partners face-to-face.

"It provides a new experience and solutions to experienced suppliers who are keen to find more buyers to order their high-quality products," said Quilindo.

He added experts from the company will first give professional suggestions to suppliers on company profiles and product brochures and then discuss the detailed requirements of the buyers to narrow down the selection process.

The supplier of products is not the only side to benefit from services provided by B2B businesses. They also offer information enabling foreign companies to discover different manufacturers.

"We are delighted to see the B2B industry booming because it provides sufficient information about qualified manufacturers for us to select and start negotiations with," said Cathy Gao, divisional merchandiser manager at Redcats Asia Management Consulting (Shanghai) Co, which also works with Tradegood.

She added that using a B2B company to find product suppliers is the wisest choice for buyers if they have proved their reliability.

Tradegood worked with Worldwide Responsible Accredited Production to make sure that all the products they deal with are manufactured under lawful, humane and ethical conditions by suppliers.

"It is important for suppliers to demonstrate their good manufacturing practices in order to stand out from the sea of suppliers, especially since buyers are becoming increasingly concerned about their suppliers' commitment to social regulations and compliance," said Avedis Seferian, president and chief executive officer of Worldwide Responsible Accredited Production.

Seferian added that suppliers can prove they are responsible and trusted players in the industry by working with partners such as Tradegood.

Economists also predicted more small and medium-sized enterprises would turn to B2B businesses for help in expanding their network of regular clients.

"Expanding the market is the best way forward for SMEs to escape this miserable period, which is going to affect the trading industry for a long time," said Shi Jinchuan, dean of Zhejiang University School of Economics.

Shi added that using B2B business to get in touch with more global buyers in the same industry will be a smart move for SMEs in helping them go forward, making better quality products and delivering them to more clients.

yuran@chinadaily.com.cn

 

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