EXPANSION for small and medium enterprises often means venturing into new markets and courting new customers. In some cases, SMEs look beyond local shores to explore opportunities further afield. But given their limited resources, business owners and managers need to consider many critical factors before venturing into unknown territory.

To better understand what is involved in entering a new market, decision makers need to do country-specific research, assess the business risks involved and gain some insight into the economic and cultural landscape of that market.

A one-stop centre providing such information - for example, country profile, market size, income distribution, trade regulations, business customs and political and economic landscape - would be useful.

Now SMEs can turn to EnterpriseOne Business Information Service (EBIS) offered at the National Library Board (NLB), Singapore Business Federation (SBF) and IE Singapore.

EBIS info-consultants cull information from print reports and more than 100 digital databases - over 20 of which carry updated and real-time business-relevant information - into customised business intelligence reports. Any EBIS user can use these reports to make informed decisions such as which market to enter, and how. The databases contain detailed information such as:

• Import and export data;
• Market information including trends and developments;
• Consumer profiles, such as income levels and per capita expenditure on goods and services;
• Market/industry statistics and profiles;
• Corporate background, including the nature of business and the key company executives;
• Political and economic information.

SMEs can start their market research or industry query by seeking advice from an EBIS info-consultant to discuss their information needs. After the meeting, the consultant will work on a report tailored to the entrepreneur's information needs. The customised report is then delivered electronically to the company's e-mail address.

While all SMEs can approach the info-consultants, EBIS membership allows business owners to access digital information that can help kickstart their information search or help them continue exploring various options with more in-depth information.

Members have the benefit of accessing info-consultants' expertise to learn how to get more information on their own and to access the information 24/7 at their convenience.

Members can also have access to:

• EnterpriseOne Focus and Insight Alerts that are updated monthly. These alerts update members on the macroeconomic environment and also focus on specific industries;
• Search Engines like OneBrowse and OneSearch. OneBrowse, accessible from the EBIS website (www.ebis.sg), has an engine that picks up articles/reports available in databases and online news agencies on a daily basis.

        OneSearch, which is currently available only at the EBIS centre at the NLB building in Victoria Street, enables         users to do keyword searches across a list of databases that can be accessed externally from NLB's network         of libraries. So instead of having to search individual databases, OneSearch helps information seekers save         time.

• Country and industry seminars, where EBIS consultants highlight databases and Web and print resources useful for entrepreneurs. Such seminars are usually held on a regular basis at SBF's premises at Keppel Towers.

To help EBIS members further, customised RSS (Really Simple Syndication) feeds can be created by info-consultants. These feeds, culled from NLB's databases, are grouped according to industry sectors, allowing members to access information any time and anywhere.

How useful has the service been? PurpleClick Media, a search engine marketing firm says that had it not been for EBIS, it would have had to spend $3,000 to $6,000 for a customised project with a consultant. Using EBIS helped the company decide to set up a subsidiary in Kuala Lumpur.

To get started, you can register for EBIS membership online, send in the completed registration form available from the same link or submit it in person at the EBIS office at SBF. With that, you will be able to make an appointment with an EBIS info-consultant for a consultancy session or to request a customised report. All communication between you and the consultant, as well as the contents of the report, are confidential.

This article is contributed by the National Library Board (NLB)

This article was first published in The Business Times on October 28, 2008.