A new business-to-business (B2B) trading portal aims to boost local small and medium enterprises (SMEs) into the international stock trading market.
Plusto, launched yesterday, will connect companies across the globe through direct trade and online auctions for 30 of the biggest industries in the world economy.
Plusto CEO Adriaan Gie says there are two reasons why his company's business model will work. Firstly, it will give large companies the ability to move surplus stock all over the world. Secondly, it will allow SMEs to grow their markets across the borders of the countries they come from. The Web site is open globally and allows entrepreneurs to easily source their products overseas.
“The e-commerce sector has seen a boom over the last decade, but B2B commerce has not yet taken off in the way that B2C commerce has done. This has been because most B2B Web sites fail to provide security and functionality required to operate at a global level,” says Gie.
Trading around the world
Gie explains the portal works by dividing the global economy into 30 main industries. Plusto facilitates B2B transactions and also hosts monthly auctions in more than 7 500 company types, ranging from manufacturing to chemical engineering.
“This is done is to stimulate activity in the key industries so individuals know who is selling what and what type of stock is available.”
The Web site is still in beta testing and Gie expects it to be done with that phase in the next six months.
Gie adds Plusto has partnered with CargoKey, a global freighting calculator that allows companies to obtain complete cross-border freight quotations. The trading Web site hopes to incorporate the calculator into its active framework later this year.
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