The UK-based part of global online retailer Amazon, has teamed up with the small business support network Enterprise Nation to launch a free of charge ‘Accelerator Programme’ to support 200,000 small businesses and start-ups.
This could potentially give them a huge boost, especially after the terrible effects the UK lockdown has unfortunately had on many companies.
The Amazon Small Business Accelerator is an online educational programme looking to help people set up an online business or build on their existing one.
This means that it isn’t only for the business owners out there that are already running a venture, it can be used by those looking to fill a gap in the market too, or simply set up a business they’ve been thinking about for a while.
This could lead them to a new career path or just simply allow them to pursue an idea they’ve been building up in their minds for a while.
What is the Amazon Accelerator Programme
The amazon accelerator program is available in three different ways, it is based on the size of your business: ‘Start’, ‘Grow’ and ‘Turbo’. Those applying for the service will have to fill out an online form, in which they will give details about their business’ size and the stage it is currently at.
To deliver their methods effectively and in a way that suits each company personally, Amazon will need to know what you want out of the programme. This will also help them to decide which businesses they want to take on and let be a part of the Accelerator service.
Furthermore, up to 1,000 mostly-offline start-ups and small businesses will get access to a week-long boot camp to help them transition into the online marketplace. They will also receive 12 months of support, which comes from accredited advisors covering topics on marketing, operations and managing finances. This is an amazing opportunity for those that are new to the online business world.
This will give long-time business owners that aren’t familiar with the inner workings of online retail, the insight they need to succeed in the modern world.
Who can sign up for Amazon Accelerator?
Amazon Accelerator is a program designed to help entrepreneurs launch and grow their businesses on Amazon. The program provides access to resources, mentorship, and training from Amazon experts, as well as $10,000 in funding.
Here are some of the bare essentials that Amazon will look at:
- You can generate at least $1M in annual sales
- Commit 5% of revenue to paid advertising on Amazon
- Maintain healthy inventory levels
- Adopt FBA, although Amazon allows brands to go use merchant-fulfilled models when inventory runs dry
To be eligible for the program, entrepreneurs must have an existing business with a proven track record of success. They must also be able to show that their business has the potential to scale quickly on Amazon. If you think you meet the eligibility requirements, you can apply for the Amazon Accelerator program here.
How Much Does the Amazon Accelerator Program Cost?
Amazon’s Accelerator Program is a 12-week intensive course designed to help early-stage startups grow and scale their businesses. The program provides access to Amazon’s resources and expertise, as well as mentorship from industry leaders. The cost of the program is $15,000, which includes tuition, materials, and access to the Amazon facilities.
Additionally, participants are responsible for their own travel and accommodation expenses. The Accelerator Program is open to companies from around the world, and applications are accepted on a rolling basis. Selected companies will be notified within two weeks of submitting their application. For more information about the program, including how to apply, please visit the Amazon website.
Sellers who are accepted into the Amazon Accelerator Program will incur a program fee of a 7% premium to the referral fees found on the Amazon Fee Schedule.
What are the Pros and Cons of Amazon Accelerator?
Amazon Accelerator is a program designed to help small businesses succeed on Amazon.com. The program provides access to exclusive resources, including Amazon Web Services, marketing support, and early access to new Amazon products and features. There are also monthly mentoring sessions with successful Amazon entrepreneurs.
However, the program is not without its drawbacks. First of all, it requires a significant time commitment from participants. Second, the program is only available in select cities across the United States. Finally, participants must be willing to share confidential business information with Amazon staff. Despite these drawbacks, Amazon Accelerator remains a popular option for small businesses looking to take their business to the next level.
How Do I enroll In the Amazon Accelerator Program?
The Amazon Accelerator Program is designed to help entrepreneurs grow their businesses through access to Amazon’s resources and expertise. The program provides mentorship, tools, and resources to help entrepreneurs grow their business on Amazon. To enroll in the program, entrepreneurs must first create an Amazon Seller Central account and then apply to the program.
The UK Amazon Accelerator Programme sounds like it’ll offer a service that could potentially be a massive help to small or independent businesses that are looking to grow and develop. If you’re are hoping to start increasing your retail sales in general, or are simply targeting a development within your online sales, it seems like this programme gives you a head start in doing that.
You can make your online store more consumer friendly and increase the amount of online shopping occurring at your business by learning about marketing, branding, etc. all through this one programme. So, apply today and see what the future of your business holds for you when you truly unlock its potential.
Once accepted into the program, entrepreneurs will have access to a range of resources, including exclusive events, training materials, and1-on-1 coaching from Amazon experts. The program also provides access to exclusive deals and discounts, as well as promotional opportunities. To learn more about the program and how to enroll, visit the Amazon Accelerator website.
Should I Join the Amazon Accelerator Program?
The Amazon Accelerator Program is an intensive, twelve-week program designed to help entrepreneurs grow their businesses. The program provides access to Amazon’s resources, including its customer base, logistics network, and marketplace expertise. Participants also receive a stipend of $10,000 and are eligible for up to $100,000 in funding from Amazon. But the program is not for everyone. Here are some things to consider before applying to the Amazon Accelerator Program:
-Are you ready to commit to a full-time, intense program? The Amazon Accelerator Program requires participants to dedicate themselves fully to the program for twelve weeks. If you’re not ready to make that commitment, the program is not right for you.
-Do you have a business idea that is a good fit for Amazon? The Accelerator Program is designed specifically for businesses that can benefit from Amazon’s resources. If your business idea is not a good fit for Amazon, you will likely not be accepted into the program.
-Can you get by without the stipend? The $10,000 stipend is intended to cover living expenses during the program. If you cannot get by without this income, the program may not be right for you.
The Amazon Accelerator Program is an intense commitment that is not right for everyone. Consider these factors before applying to see if the program is a good fit for you and your business idea.
Amazon Accelerator Program vs. Amazon Launchpad
For entrepreneurs, getting their products noticed on Amazon can be a challenge. With millions of products available for purchase, it can be difficult to stand out from the crowd. Fortunately, Amazon offers programs designed to help new businesses get started and grow their sales. The Amazon Accelerator Program provides mentorship and resources to help businesses build a successful Amazon storefront.
The program also offers access to exclusive events and workshops. In contrast, the Amazon Launchpad is designed to help entrepreneurs bring their products to market quickly and efficiently. The Launchpad offers support in fruition, marketing, and distribution. It also provides a platform for entrepreneurs to connect with potential customers. So, which program is right for you? If you are just starting out on Amazon, the Accelerator Program may be a better fit. However, if you have a product that is ready for launch, the Launchpad could help you reach your sales goals more quickly.
Final Thoughts
Amazon is a behemoth in the eCommerce world, and their Amazon Accelerator program offers short-term benefits to third-party sellers in the form of access to exclusive resources and support from Amazon. However, there are downsides to this program that could have long-term effects on your business. The biggest downside is that by participating in the program, you are essentially ceding control over a chunk of your business to Amazon.
While this can be helpful in the short-term, it could have negative consequences down the line if you are not careful. Therefore, it is important to weigh the pros and cons of the program before making a decision. If you are experienced in product development but lack brand equity, then the Amazon Accelerator could be a good option for you.
However, if you are new to eCommerce or are not willing to tie your business so closely with Amazon, then it might be best to grind it out on your own until you get that flywheel going.
Lee Jones is a seasoned Business Finance Specialist with over two decades of invaluable experience in the financial sector. With a keen eye for market trends and a passion for helping businesses thrive, Lee has become a trusted advisor to countless organizations seeking to navigate the complexities of finance.