Being the second largest sector that contributes to nearly 20% of Singapore’s Gross Domestic Product (GDP), wholesale trade remains a vital industry that fuels the nation’s economy.
New technologies and ever-evolving market dynamics have reshaped the wholesale market today. To stay ahead in this crowded marketplace, businesses like yours must embrace digital solutions and innovation.
Whether you are in the wholesale business of food, household goods or electronics and beyond, let us help you on your quest for global growth.
Manage your business finances with the OCBC Business Account. From getting an up-to-date picture of your cash flow to reconciling payments and collections, access your account 24/7 on desktop and mobile with our award-winning digital business banking platform, OCBC Velocity, and the OCBC Business app.
Manage your business finances with the OCBC Business Account. From getting an up-to-date picture of your cash flow to reconciling payments and collections, access your account 24/7 on desktop and mobile with our award-winning digital business banking platform, OCBC Velocity, and the OCBC Business app.
Receive payments digitally via bank transfers through GIRO or FAST. If speed is key, PayNow Corporate also lets you send and receive funds instantly using your UEN. You will no longer need to share your bank account numbers.
Receive payments digitally via bank transfers through GIRO or FAST. If speed is key, PayNow Corporate also lets you send and receive funds instantly using your UEN. You will no longer need to share your bank account numbers.
Choose from convenient and secure ways to pay your suppliers on time. Protect yourself from currency fluctuations and lock in your preferred exchange rates for overseas transactions with FX Online. Make regular payments via IACH or urgent ones quickly using Telegraphic Transfer – at a flat fee of US$30 with a Multi-Currency Account.
Choose from convenient and secure ways to pay your suppliers on time. Protect yourself from currency fluctuations and lock in your preferred exchange rates for overseas transactions with FX Online. Make regular payments via IACH or urgent ones quickly using Telegraphic Transfer – at a flat fee of US$30 with a Multi-Currency Account.
Save time and cost by switching from manual paper invoices to our free e-Invoicing tool on OCBC Velocity. It allows you to create and send professional e-invoices to your clients, track payment statuses and reconcile automatically.
Spending too much time managing your finances and payroll? Our Start Digital pack lets you explore digital accounting and HR tools to save time and boost overall productivity.
Looking to make bulk purchases, finance a new fleet of delivery trucks or purchase a bigger space? Regardless of the challenge or opportunity, help your growing business thrive with our finance solutions.
Expand your business with these solutions
Fund working capital gaps and seize business growth plans at the right time with trade financing. This will give you the flexibility to navigate temporary or potential cash flow shortfalls.
Fund working capital gaps and seize business growth plans at the right time with trade financing. This will give you the flexibility to navigate temporary or potential cash flow shortfalls.
Convert unpaid invoices into cash within 1 working day and get the funding you need to purchase software or equipment. Borrow and pay for only what you use for 30 days at only 0.6% per month.
Convert unpaid invoices into cash within 1 working day and get the funding you need to purchase software or equipment. Borrow and pay for only what you use for 30 days at only 0.6% per month.
Whether you need a bid bond for a tender, a guarantee to receive an advance payment or a performance/warranty bond to fulfil your contractual obligations with suppliers, apply for the Banker’s Guarantee online via OCBC Velocity.
Whether you need a bid bond for a tender, a guarantee to receive an advance payment or a performance/warranty bond to fulfil your contractual obligations with suppliers, apply for the Banker’s Guarantee online via OCBC Velocity.
Minimise damages or losses caused by unforeseen circumstances with our General Commercial Insurance. This insurance covers fire damages, public liability, burglary, loss of money and work injury compensation for your employees.
Minimise damages or losses caused by unforeseen circumstances with our General Commercial Insurance. This insurance covers fire damages, public liability, burglary, loss of money and work injury compensation for your employees.
If you are moving cargo by sea or air, our Marine Cargo Insurance covers unexpected financial losses resulting from physical loss or damage to your goods during transportation. As a seller, a contingency cover will help reduce your losses should your buyer fail to make payment or refuse to accept the lost or damaged goods.
If you are moving cargo by sea or air, our Marine Cargo Insurance covers unexpected financial losses resulting from physical loss or damage to your goods during transportation. As a seller, a contingency cover will help reduce your losses should your buyer fail to make payment or refuse to accept the lost or damaged goods.
Losing key person(s) can severely disrupt operations and impact your bottom line. Our Corporate Life Insurance insures against losing your core talent by providing a lump sum payout with adequate liquidity to keep your business running smoothly.
Losing key person(s) can severely disrupt operations and impact your bottom line. Our Corporate Life Insurance insures against losing your core talent by providing a lump sum payout with adequate liquidity to keep your business running smoothly.
With our expertise in working with wholesale trade companies, we can help your business thrive as you explore regional expansion or merger and acquisition endeavours – be it now or in the future.
Take advantage of our network and let our specialists provide customised and strategic advisory to facilitate your growth objectives.
A net-zero transition can be achieved by adopting clean transportation methods, partnering with suppliers who minimise waste generation and diversifying into the trade of sustainable products, such as plant-based proteins.
Regardless of your business sector, our innovative sustainable solutions can help you gain a competitive edge and capture new opportunities in this green economy.
No matter the size or stage of your business, we can support you from the ground up, every step of the way.
If you are a first-time business owner, join us as an OCBC Business Banking customer by opening a business account. Or contact our digital specialist to help you get started on the right foot and digitalise your business.
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Whether you are expanding your range of services or your footprint, we offer industry insights and solutions to help you grow and scale. Contact us and our Relationship Manager will be in touch.
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Wholesale Trade weakened further in 1Q 2023 with a fall in reading from 48.3 to 47.1, likely attributed to the dip in Singapore's merchandise exports in the recent months.
*OCBC SME Index is centred on a score of 50, which represents zero change in the inputs from a year ago. A reading above 50 indicates improved activity, while a reading below 50 indicates a deterioration relative to the same period a year ago.
