For a society that is accustomed to the fast pace of digital communications, the lag time in manufacturing and sourcing has been a surprise. Thanks to Alibaba.com, the world’s number one online marketplace for international trade, businesses are going global and buyers and sellers are finding their perfect trading partners faster and easier than every before.

Simply stated, Alibaba.com introduces businesses to one another. Founded by Jack Ma and 18 other people in 1999 in Hangzhou, China, its mission is to “make it easy to do business anywhere”. Alibaba.com’s English-language website serves small and medium enterprises (SMEs) in over 200 countries and regions, and covers more than 30 industry categories and over 5,000 product categories.

While traditional sourcing channels including trade shows, catalogs and trade associations remain prominent in today’s business environment, online business-to-business (B2B) marketplaces like Alibaba.com are gradually stealing the limelight with their comparative advantages – efficiency and effectiveness, strong B2B focus, large database, real time operation, and capability to bridge geographies and time zones.

Alibaba.com believes the next breakthrough in e-commerce will be services beyond trade, services that can help SMEs solve almost any business issue. For example, in November last year, Alibaba.com entered into a partnership with Industrial and Commercial Bank of China and China Construction Bank to provide inexpensive and efficient business loans to SMEs in China. CEO of Alibaba.com, David Wei, said, "By embracing e-commerce, these SMEs are growing their business, hiring local staff and making money, and this in turn benefits their local communities and economies."

Alibaba.com's service offerings could not come at a better time as the United States is in the midst of an unpredictable economy - Alibaba.com's global coverage will considerably benefit both American buyers and suppliers.

Giving back to their members: Alibaba.com is now accepting nominations for its 2008 Global e-Business Champions of the Year awards. Now in its fifth year, 2008’s e-Business Champions of the Year awards are being extended to North America and Europe for the first time. Click here to find out more.