What is the name of your solution?
1Point Commerce
Provide a one-line summary of your solution.
A global B2B platform empowering SMEs to thrive through increased sales and procurement efficiency, fostering global economic prosperity.
In what city, town, or region is your solution team headquartered?
Amman, JordanIn what country is your solution team headquartered?
What type of organization is your solution team?
Other, including part of a larger organization (please explain below)
If you selected Other, please explain here.
1Point Commerce operates as a flagship solution under the Abbadai Group S.A., a Panamanian registered entity, enhancing global trade for SMEs.
Film your elevator pitch.
What specific problem are you solving?
The specific problem 1Point Commerce addresses is the systemic barriers small and medium-sized enterprises (SMEs) face in participating in the global digital economy. Globally, SMEs account for more than 90% of all businesses and around 70% of employment. Yet, despite their economic significance, these entities often struggle to reach international markets due to a lack of resources, market access, and the complexity of global trade regulations. This gap significantly hinders their growth potential, economic prosperity, and the ability to create jobs.
The World Bank highlights that SMEs in developing countries are less likely to be able to export their goods compared to larger companies, with only around 7.6% of SMEs participating in export markets, against 14.1% of larger enterprises. This discrepancy underscores a substantial missed opportunity for economic development and poverty reduction, given that SMEs are major job creators and innovation drivers.
Compounding the issue, the digital divide exacerbates SMEs' exclusion from global trade. While digital platforms offer a gateway to international markets, many SMEs lack the digital savviness or resources to leverage these tools effectively. Language barriers, differing trade regulations across borders, and the challenges of establishing trust with overseas buyers further complicate SMEs' entry into global commerce.
1Point Commerce tackles these challenges head-on by offering a decentralized B2B platform that simplifies international trade for SMEs. By organizing products according to international industrial codes and minimizing language barriers through a unique negotiation tool, we make it easier for SMEs to showcase their products to a global audience and for buyers to find, compare, negotiate, and purchase goods. Our platform aims to democratize access to global markets, fostering economic growth, increasing employment, and contributing to the overall prosperity of communities worldwide.
What is your solution?
Our solution, 1Point Commerce, is a revolutionary B2B digital marketplace that enables small and medium-sized enterprises (SMEs) to seamlessly engage in global trade. At its core, 1Point Commerce acts as a bridge connecting SMEs to international markets, thereby expanding their sales and procurement opportunities beyond local boundaries.
How It Works:
1Point Commerce with its decentralized platform working through representatives in cities around the world, integrates local companies into the global digital economy by organizing their products and services according to international industrial codes (NAICS and HS codes), making it easier for buyers to purchase products from suppliers everywhere while saving buyers time and money. Our platform features a unique, numerical negotiation tool that minimizes language barriers, allowing for clear, efficient negotiations between parties from different countries.
Technology Utilized:
- Industrial Code Classification: By categorizing products and services using NAICS (North American Industry Classification System) and HS (The Harmonized Commodity Description and Coding System) codes, we streamline the search process, enabling buyers to easily find what they need and suppliers to reach the right audience.
- Numerical Negotiation Tool: This proprietary feature simplifies international trade negotiations, making it accessible for SMEs without the need for intermediaries or fluency in multiple languages.
- Digital Marketplace Infrastructure: Built on a secure, scalable cloud infrastructure, our platform ensures reliability, performance, and accessibility from anywhere in the world.
1Point Commerce does not participate directly in transactions but facilitates trade deals between buyers and suppliers. We aim to lower the entry barriers for SMEs into global markets, providing them with the tools and visibility needed to thrive in the digital economy.
For a closer look at how 1Point Commerce empowers SMEs, here is a link to our product demo:
By offering this platform, we're not just facilitating transactions; we're fostering a global community of businesses eager to grow, innovate, and contribute to a prosperous and peaceful global economy.
Who does your solution serve, and in what ways will the solution impact their lives?
1Point Commerce serves small and medium-sized enterprises (SMEs) across the globe, particularly those in developing regions where access to international markets is limited. Our target population comprises SMEs that face challenges in scaling their operations, increasing sales, penetrating new markets, and securing cost-effective procurement options. These businesses are often underserved by existing digital trade platforms due to high costs, complex trade regulations, and language barriers that impede their global reach and operational efficiency.
Impact on Target Population:
- Global Market Access: SMEs gain direct access to international markets, enabling them to showcase their products and services to a wider audience. This increased visibility leads to higher sales volumes and revenue growth.
- Cost Reduction: By participating in a global digital marketplace, SMEs reduce marketing and sales expenses associated with entering new markets. Our platform facilitates competitive procurement, helping SMEs source materials and services at lower costs, improving their bottom line.
- Operational Efficiency: The streamlined process for listing products and negotiating deals reduces the time and resources SMEs spend on sales and procurement. Our numerical negotiation tool simulates face-to-face negotiations, minimizes language barriers, and makes more trade deals happen.
- Economic Empowerment: By empowering SMEs to increase sales and expand their operations globally, 1Point Commerce contributes to job creation and economic growth within their local communities. Increased exports and imports foster economic resilience against shocks and contribute to overall prosperity.
- Community Building: Our decentralized platform with local representatives in cities around the world, ensures the inclusion of local businesses in the digital economy, fosters a sense of community among SMEs, enabling knowledge sharing, collaboration, and mutual support. This leads to innovative solutions and strategies for overcoming common business challenges.
Through 1Point Commerce, we aim to democratize access to global trade, enabling SMEs to participate in the digital economy on an equal footing with larger corporations. By addressing the specific challenges faced by our target market of SMEs, our solution not only enhances their operational capabilities but also contributes to broader socio-economic development goals, including poverty reduction and sustainable growth.
How are you and your team well-positioned to deliver this solution?
The Abbadai Group team, led by seasoned entrepreneurs and experts in international trade, digital technology, and B2B marketplaces, is uniquely positioned to deliver 1Point Commerce due to our deep understanding of and direct engagement with the communities we serve. Our leadership and team members have a diverse range of experiences that span the globe, including working directly with SMEs in various sectors and regions. This diversity not only enriches our perspectives but ensures our solutions are grounded in the realities of the businesses we aim to support.
Community-Centric Approach:
- Representation: Our team is not just an assembly of professionals but a mosaic of individuals who have personal and professional ties to the local SME sector. Many of us have been SME owners or employees ourselves, giving us firsthand insight into the challenges and needs of this demographic. This experience informs every aspect of 1Point Commerce, from its design to implementation.
- Engagement and Feedback: The development of 1Point Commerce has been a collaborative process, involving continuous engagement with SMEs through focus groups, surveys, and pilot programs. This ensures our platform is not just a technological solution but a response to the real challenges, and expressed needs of the SME community. Our local representatives, who are deeply embedded in their respective regions, play a crucial role in maintaining this dialogue and ensuring the platform evolves in response to changing needs.
- Inclusive Design: Our platform is designed with inclusivity at its core, considering the varied technological capabilities of SMEs around the world. By simplifying the user experience and removing language barriers, we ensure that even businesses with limited digital proficiency benefit from global trade opportunities.
- Commitment to Empowerment: Beyond offering a marketplace, we are committed to empowering SMEs by providing them with the tools, knowledge, and support needed to thrive in the global economy. This includes resources, personalized support from our representatives, and a community forum for sharing insights and advice.
In summary, our proximity to and understanding of our target communities, combined with a committed and diverse team, ensure that 1Point Commerce is a solution by SMEs for SMEs. Our approach ensures that the platform is not only technically sound but also culturally sensitive, economically inclusive, and adaptable to the unique needs of SMEs worldwide.
Which dimension of the Challenge does your solution most closely address?
Generate new economic opportunities and buffer against economic shocks for workers, including good job creation, workforce development, and inclusive and attainable asset ownership.Which of the UN Sustainable Development Goals does your solution address?
What is your solution’s stage of development?
GrowthWhy are you applying to Solve?
Our application to MIT Solve is driven by the aspiration to harness the full potential of AI and automated marketing technologies, alongside securing expert mentorship to elevate 1Point Commerce into the definitive global B2B platform for SMEs. Our vision encompasses broadening our platform's reach to cover all countries within the next five years, firmly establishing a universally accessible digital marketplace that empowers SMEs to thrive in the global economy.
Specifically, we face the following barriers that we believe Solve can assist us in overcoming:
- Technical Expertise in AI and Automation: While we have successfully implemented a platform that simplifies global trade for SMEs, the integration of AI and automated marketing technologies presents a technical challenge. We seek Solve's assistance in connecting us with partners who possess the expertise to help us enhance our platform's capabilities, making it more intuitive and efficient for our users.
- Mentorship and Strategic Guidance: Navigating the complexities of global expansion requires nuanced understanding and strategic foresight. Mentorship from Solve's network of experts could provide us with the insights and guidance necessary to navigate legal, cultural, and market-specific challenges, especially as we aim to enter diverse new markets.
- Overcoming Market Barriers: As we plan our expansion, understanding and adapting to the legal and cultural nuances of new markets is paramount. We anticipate that Solve can facilitate connections with local experts and organizations that can help us surmount these barriers, ensuring a smooth and successful entry into every region.
- Networking and Collaborative Opportunities: Being part of the Solve community presents an unparalleled opportunity to forge connections with other innovators, investors, and potential partners who share our mission of fostering global economic prosperity through technology.
By overcoming these challenges with Solve's support, we aim not only to expand our technological and operational capacity but also to significantly impact SMEs worldwide by providing them with a platform that enhances their sales, exports, and overall growth potential. Our goal transcends funding; we seek a partnership with Solve that aligns with our long-term vision of creating a more inclusive and prosperous global economy.
In which of the following areas do you most need partners or support?
Who is the Team Lead for your solution?
Faeq Tadros, CEO
What makes your solution innovative?
Our solution, represented by the Abbadai Group's platforms ECpages.com and 1Commerce.com, stands at the forefront of innovation in global trade by leveraging the power of decentralization to solve the challenges buyers and suppliers face in concluding trade deals across borders and increases deals worldwide in an unprecedented manner. Unlike traditional e-commerce or trade platforms that rely on centralized control, our approach democratizes access to the global marketplace, enabling suppliers from any country to expand their sales and reach new markets without the hefty fees or complex barriers typically associated with international trade.
What makes our solution truly innovative is its emphasis on inclusivity and efficiency. By creating a decentralized network, we ensure the inclusion of local SMEs in the digital economy, creating a unified global marketplace to fulfill the needs of buyers and suppliers in making more trade deals in a shorter time, eliminating the need for intermediaries, significantly reducing costs for suppliers and prices for buyers. This not only makes international trade more accessible for small and medium-sized enterprises (SMEs) but also stimulates economic growth by opening up new markets for underrepresented regions and sectors.
Furthermore, our platforms employ cutting-edge technologies to ensure security, transparency, and trust, which are paramount in international transactions. Features such as simple smart contracts, blockchain-based time stamps of offers and acceptances, and recommendation systems are designed to enhance the trading experience, making it smoother, more reliable, and tailored to the needs of our diverse user base.
The broader positive impacts of our solution could be monumental. By facilitating easier access to international markets, we expect to see a surge in entrepreneurship and innovation, particularly in developing countries where such opportunities are transformative. Additionally, our model could inspire a shift in the global trade ecosystem towards more decentralized and equitable practices, setting a new standard for how business is conducted worldwide.
In terms of changing the market landscape, our platforms have the potential to significantly reduce trade barriers, making the global marketplace more accessible than ever before. This challenges the dominance of large corporations in international trade, empowers SMEs, and leads to a more diversified and resilient global economy. Ultimately, we envision a world where anyone, anywhere, can easily connect and conduct trade on a level playing field, sparking a new era of economic cooperation and growth.
Describe in simple terms how and why you expect your solution to have an impact on the problem.
To describe the impact of the Abbadai Group's platforms, ECpages.com and 1Commerce.com, on global trade using a theory of change or logical framework, it's essential to break down the process into clear, understandable steps. Here’s a simplified version:
Activities:
- Developing and Launching the Platforms: Creating ECpages.com and 1Commerce.com with user-friendly interfaces, robust security measures, and features that facilitate easy and transparent international transactions.
- Onboarding Suppliers and Buyers: Actively recruiting a diverse range of suppliers and buyers from around the globe to ensure a wide variety of products and services.
- Implementing Decentralized Technology: Using basic blockchain principles for secure, transparent transactions and time-stamped contracts to initiate agreements between parties.
Immediate Outputs:
- Increased Platform Participation: A growing number of suppliers and buyers use the platforms, attracted by low barriers to entry, reduced transaction costs, and a broad market reach.
- Enhanced Market Access for SMEs: Small and medium-sized enterprises (SMEs) find new opportunities to sell internationally, which were previously inaccessible due to cost or complexity.
- Streamlined Transactions: The use of technology leads to faster, more secure transactions with reduced errors and disputes.
Short-term Outcomes:
- Growth in International Trade for SMEs: SMEs experience a significant increase in sales and market reach, contributing to their growth and sustainability.
- Economic Empowerment of Underrepresented Regions: Suppliers from developing countries gain equitable access to global markets, supporting local economies and reducing economic disparities.
- Increased Efficiency and Reduced Costs: The overall cost of international trade decreases, making products more affordable and accessible worldwide.
Long-term Outcomes:
- Economic Growth and Job Creation: The expansion of international trade drives economic growth, creates jobs and stimulates innovation in both developed and developing countries.
- Market Diversification: The global economy becomes less reliant on major corporations and more supportive of a diverse range of businesses, enhancing economic resilience.
- Increased Global Cooperation: A more interconnected global trade system fosters greater international cooperation and understanding, contributing to global stability and prosperity.
Evidence to Support Links:
- Third-party Research: Studies on blockchain in trade finance show a reduction in fraud, improvement in transaction speed, and increased transparency.
- Impact Evaluations: Pilot programs with SMEs demonstrate growth in sales and market reach when barriers to international trade are reduced.
- Interviews with Target Population: Feedback from users highlights the importance of lower transaction costs, easier market access, and the benefits of secure, transparent transactions.
This framework outlines how the activities of developing and launching ECpages.com and 1Commerce.com are expected to lead to immediate outputs like increased participation and streamlined transactions, which in turn foster short-term outcomes such as economic empowerment and long-term outcomes including economic growth and increased global cooperation. The logical links between each step are supported by evidence from research, evaluations, and direct feedback, illustrating a clear path from the platforms' activities to their intended impact on global trade.
What are your impact goals for your solution and how are you measuring your progress towards them?
Impact Goals:
Empower Small and Medium-Sized Enterprises (SMEs) to Participate in Global Trade: By reducing barriers and costs associated with international trade, we significantly increase the number of SMEs engaging in global markets, fostering economic growth and innovation.
Promote Economic Inclusion of Developing Countries: Enhance the ability of suppliers in underrepresented regions to access and compete in the global marketplace, contributing to economic development and poverty reduction in these areas.
Strengthen Global Economic Resilience: By diversifying the global trade ecosystem and reducing reliance on large multinational corporations, we aim to create a more resilient global economy that better withstands shocks and stresses.
Measuring Progress:
Indicators:
Number of SMEs Engaged: Track the number of SMEs actively using the platforms to enter or expand their presence in global markets. A growth in these numbers indicates success in lowering entry barriers and facilitating trade.
Volume and Value of Transactions: Monitor the total volume and value of transactions negotiated or conducted through the platforms. Increases here reflect the platforms' effectiveness in facilitating trade and contributing to economic activity.
Geographical Diversity of Users: Measure the geographical spread of platform users, with specific attention to participation from developing countries. Greater diversity indicates success in promoting economic inclusion.
Job Creation: Assess the number of jobs created or supported by businesses as a result of their engagement with the platforms. This is a direct indicator of economic impact and growth.
User Satisfaction and Success Stories: Conduct surveys and collect testimonials from platform users to gauge satisfaction and collect qualitative evidence of the platforms’ impact on their businesses and communities.
Data Collection and Analysis:
Platform Analytics: Utilize built-in analytics tools to continuously monitor user engagement, transaction volumes, and geographical data.
Surveys and Feedback Mechanisms: Regularly survey users to assess satisfaction, gather feedback, and identify areas for improvement. Success stories can be highlighted through case studies.
External Assessments: Engage third-party organizations to conduct periodic impact assessments, ensuring objectivity and identifying areas where the platforms could have a broader or more profound impact.
By aligning with global objectives like the UN SDGs, the impact goals for ECpages.com and 1Commerce.com are not only ambitious but also measurable, providing a clear framework for evaluating progress. These indicators and methods allow for a nuanced understanding of the platforms' effectiveness in transforming global trade, ensuring that the solution remains focused on creating a meaningful, transformational impact on people’s lives.
Describe the core technology that powers your solution.
Core Technology Components and Their Impact:
Web and Mobile Platform: The foundation of 1Commerce.com, providing a universally accessible interface that ensures a seamless user experience. This inclusivity is crucial for democratizing access to global markets, allowing businesses of all sizes and from any location to participate in international trade.
Secure Messaging and Communication Tools: These tools facilitate direct, confidential communication between buyers and suppliers, crucial for negotiating terms and building trust. The use of encrypted protocols safeguards the integrity of these discussions, which is vital in international trade where trust is paramount.
Document Sharing and Management System: By offering a secure environment for sharing essential trade documents, this system streamlines the preparation for transactions, particularly those involving letters of credit (L/Cs). Secure access controls ensure that sensitive information is protected, enhancing trust and compliance.
User Verification and Review System: Trust is further built through the verification of users. This system mimics successful e-commerce practices, helping to ensure that transactions are conducted between legitimate parties, thereby reducing the risk of fraud.
Educational Resource Library: This component addresses the knowledge gap, providing users with the information necessary to navigate the complexities of international trade. It empowers users to make informed decisions and engage in trade more confidently, which is particularly beneficial for newcomers to the market.
Market Insights and Analytics Dashboard: Offering data-driven insights, this tool helps users understand market demands and trends, aiding in strategic decision-making. Such analytics are crucial for businesses looking to compete effectively in the global market.
Benefits to People and the Planet:
Democratizes Access: By lowering barriers to entry, 1Commerce.com makes it possible for a wider array of businesses to engage in international trade, offering growth opportunities that were previously out of reach for many, especially in developing countries.
Promotes Economic Growth: The facilitation of smoother trade negotiations and partnerships not only supports economic growth and job creation but also drives sustainable development by opening up new markets and opportunities.
Encourages Sustainable Practices: The platform acts as a catalyst for change by promoting sustainable and ethical trading practices, contributing to a more environmentally conscious global marketplace. This aligns with the increasing consumer demand for transparency and sustainability in supply chains.
In essence, the technology behind 1Commerce.com is not just a tool for commerce; it's a platform designed to address and overcome the systemic barriers that hinder equitable participation in the global economy. Through its suite of technologies and resources, 1Commerce.com creates a more inclusive, transparent, and sustainable international trade environment, reflecting a deep understanding of SMEs' challenges in developing regions. This strategic use of technology to solve real-world problems aligns with the mission of initiatives like MIT Solve, which seeks to drive innovation that benefits humanity and the planet.
Which of the following categories best describes your solution?
A new business model or process that relies on technology to be successful
Please select the technologies currently used in your solution:
If your solution has a website or an app, provide the links here:
https://www.1commerce.com/
In which countries do you currently operate?
Which, if any, additional countries will you be operating in within the next year?
How many people work on your solution team?
The 1Commerce team comprises 2 full-time and 3 part-time IT development staff, focusing on building and enhancing the platform.
In addition, 15 representatives are acting as contractors to promote 1Commerce in their respective markets, providing local insights and engagement. This setup underscores a strategic approach, balancing in-house technology development with external market promotion, allowing for both focused product evolution and expansive market outreach.
How long have you been working on your solution?
1Point Commerce started in 1998 and has been evolving its solution to what it is today, the number of years spent working on the solution is 26 years.
Tell us about how you ensure that your team is diverse, minimizes barriers to opportunity for staff, and provides a welcoming and inclusive environment for all team members.
Introduction to DEI Commitment: At 1Point Commerce, we recognize the power of diversity, equity, and inclusion in driving our mission to connect small and medium-sized enterprises (SMEs) with the global market. While our core team at headquarters is small, our extensive network of representatives across the globe is where our commitment to DEI truly comes to life. These representatives play a critical role in embodying our values and extending our reach.
Diversity in Representation: Our representatives are selected from a diverse array of backgrounds, cultures, and languages, reflecting the global communities we serve. This diversity enables us to cater to a wide range of SME needs and market nuances, ensuring that our platform is inclusive and accessible. Each representative is chosen not only for their market expertise but also for their ability to bridge cultural and economic divides.
Actions Taken to Promote Equity Among Representatives: 1Point Commerce strives to ensure that all representatives have equal opportunities to succeed and grow within our network. This includes equitable access to training resources and transparent criteria for rewards and recognition. Our performance review system is designed to be fair and unbiased, ensuring representatives are evaluated based on their achievements and contributions to our platform.
Inclusive Environment Initiatives: We foster an inclusive environment by facilitating regular cross-cultural training and exchanges among our representatives. This initiative helps build understanding and respect across different cultures and business practices, enhancing collaboration and efficiency. We also host virtual meetings, allowing representatives to share insights, voice concerns, and participate in shaping our company policies.
Goals for Future DEI Enhancements: Our future goals include expanding our network to include more representatives from underrepresented regions, thereby increasing our global footprint and the diversity of our team. By 2025, we aim to grow our representative base to 100+ markets from the current 15, focusing on regions that are currently less represented on our platform. We also plan to implement advanced DEI training, leveraging AI and machine learning to customize training materials that address specific cultural competencies.
Conclusion: 1Point Commerce's commitment to diversity, equity, and inclusion is a cornerstone of our business model. By empowering a diverse network of representatives, we not only enhance our platform's global competitiveness but also enrich the entrepreneurial ecosystem worldwide. Our dedication to these principles ensures that as we expand, we continue to foster an inclusive culture that values and respects differences, driving innovation and connectivity in the digital economy.
What is your business model?
Understanding 1Commerce's approach as local-to-global emphasizes the empowerment and facilitation of local businesses to reach a global market. This perspective is integral for crafting a business model that highlights how 1Commerce supports local entities in expanding beyond their immediate markets, leveraging the global digital economy to foster growth, inclusivity, and sustainability. Here’s a refined take on the Social Business Model Canvas with this focus:
1. Value Proposition
- Empowering Local Businesses for Global Reach: 1Commerce offers local businesses the tools, platform, and network needed to access global markets. This not only helps these businesses grow but also brings diverse, local products to consumers worldwide, enriching the global marketplace.
2. Customer Segments
- Local Businesses and Artisans: The primary focus is on local businesses and artisans seeking to expand their market reach globally. Secondary beneficiaries include global consumers looking for unique, local products they wouldn't otherwise access.
3. Channels
- Digital Marketplace and Global Distribution Network: 1Commerce uses an online marketplace to showcase local products to a global audience. The platform is supported by a robust distribution network that manages logistics, making global shipping straightforward for local businesses.
4. Customer Relationships
- Supportive and Collaborative: The relationship with local businesses is built on support and collaboration, providing them with the necessary tools, knowledge, and support to successfully enter and navigate global markets.
5. Revenue Streams
- Transaction Fees and Subscription Models: Revenue is generated through transaction fees on sales and membership fee models for enhanced platform services. This ensures that 1Commerce is directly invested in the success of the local businesses it supports.
6. Key Resources
- E-commerce Platform and Logistics Partnerships: The core resources include a sophisticated e-commerce platform optimized for showcasing local products globally and partnerships with logistics companies to streamline the shipping process.
7. Key Activities
- Market Expansion and Platform Enhancement: Key activities involve expanding the platform's market reach to include more local businesses and global consumers, continuously enhancing the platform to meet the evolving needs of both sellers and buyers.
8. Key Partnerships
- Local Business Associations and Export Councils: Forming partnerships with local business associations and export councils to identify businesses ready for global expansion and to navigate any regulatory requirements for global trade.
9. Cost Structure
- Technology Development and Market Penetration: The major costs are associated with developing and maintaining the technology infrastructure and marketing activities aimed at both attracting local businesses to the platform and engaging global consumers.
10. Impact
- Economic Empowerment and Cultural Exchange: The impact of 1Commerce is measured by the economic growth of local businesses it supports, the creation of new jobs, and the promotion of cultural exchange through the global trade of local goods.
This focus of 1Commerce as a facilitator from local to global markets highlights a commitment to leveraging technology and global networks to support local economies, offering a scalable solution to the challenges faced by local businesses in accessing global opportunities. This model not only fosters economic growth but also encourages a rich cultural exchange by bringing local products to the global stage.
Do you primarily provide products or services directly to individuals, to other organizations, or to the government?
Organizations (B2B)What is your plan for becoming financially sustainable, and what evidence can you provide that this plan has been successful so far?
Our Plan for Financial Sustainability
1. Commitment to Self-Funding: 1Commerce stands on a foundation of self-reliance and prudent financial management. Initiated with personal funds, our operation emphasizes the commitment and belief our founders have in the platform's mission and its success. This self-funding approach has instilled rigorous financial discipline, ensuring operational efficiency and strategic growth investments.
2. Revenue-Driven Growth: Our financial sustainability is directly tied to a diversified and scalable revenue model, comprising:
- Entry-Level Membership: Designed to attract new SMEs with no upfront fees, offering a 5% commission on sales.
- Annual Membership: For SMEs with significant sales, priced at $795, eliminating sales commission.
- Commission-Based Membership: At $395 plus 1% commission, balancing upfront costs with ongoing sales incentives.
These membership options ensure a steady inflow of revenue, while our ambitious SME engagement targets (10,000 in 2024, 50,000 in 2025, and 100,000 by 2026) showcase the scalable potential of our model. Revenue from these projections indicates a promising financial future, aiming for substantial growth from $4.36 million in 2024 to $43.65 million by 2026, excluding additional earnings from sales commissions.
3. Evidence of Prudent Financial Management and Growth: Our self-funded status has necessitated a cautious approach to financial management, ensuring that each investment maximizes value and contributes to sustainable growth. The operation's efficiency and the strategic allocation of resources have been central to our readiness for the platform's launch, demonstrating our capability to manage funds effectively and sustain growth without external financial intervention.
Ensuring Long-term Financial Health:
1. Operational Efficiency: Leveraging our self-funded foundation, we continually seek to optimize operational costs, ensuring that our financial resources are directed toward areas of highest impact and return, such as platform development, SME support, and market expansion.
2. Revenue Reinvestment: Profits generated will be reinvested into the platform, focusing on enhancing technological capabilities, expanding our SME base, and improving member services. This reinvestment strategy is designed to fuel growth and increase the value provided to our members, contributing to a virtuous cycle of increased revenue and platform enhancement.
3. Strategic Growth without External Investment: Our growth strategy is designed to maintain independence and control over our operations, focusing on organic growth driven by our revenue streams. This approach allows us to scale at a sustainable pace, ensuring that our expansion aligns with our mission to support SMEs globally.
Conclusion:
1Commerce’s journey, grounded in self-funding and financial prudence, reflects a strategic approach to achieving financial sustainability. By prioritizing revenue generation through a diversified membership model and maintaining operational efficiency, we set a clear path to profitability and long-term success. Our commitment to self-reliance not only demonstrates confidence in our business model but also ensures that our growth remains aligned with our mission to empower SMEs worldwide.
Solution Team
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Mr. Faeq Tadros CEO, 1Point Commerce
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Our Organization
Abbadai Group