Experts advocate constant trade fair, exhibition to boost revenue, SMEs

Some experts have advocated constant trade fair and exhibition among various sectors of the economy to generate more revenue for the small and medium enterprises (SMEs).

They said this in separate interview with the News Agency of Nigeria (NAN) in Lagos on Friday, adding that the move would enhance consumers’ purchasing power and boost the nation’s economy.

Mr Duro Kuteyi, Chief Executive Officer, Spectra Industries said that the high rate of dollar to naira had forced consumers to search for low quality imported or locally produced goods.

He added that the economic recession had continued to dwindle the purchasing power of the people, hence the need for them seek for where they could purchase goods with cheaper rate.

Kuteyi expressed optimism that through fairs, the prices would be more affordable for customers.

Kuteyi, who is also the President, Nigerian Technology Incubation Entrepreneurs (NTIE) said that fairs gave more entrepreneurs the opportunity to break even.

This he said was because customers would be glad to shop in an environment where they would pay less for products.

“At this time, it is worrisome that most people now go for cheaper products, because of the high rate of dollar to naira which had forced operators of small businesses to increase the prices of their products.

“In a fair, small business owners or even multinationals will have more opportunity to meet with direct consumers, sell at cheaper rates with better turnovers, and also meet with potential investors.

“This is why we encourage other entrepreneurs to join relevant associations so that they can leverage on opportunities,” Kuteyi said.

Also speaking, Mrs Iyabode Lawson, Deputy President, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said that the women arm of the association organised exhibitions annually.

“The essence of our exhibitions is for our women members to be introduced to the market while the existing ones can meet more investors and partners.

“We also run cooperative societies, which help to augment the lack of funds that is usually the major challenge of SMEs.

“Fairs and exhibitions are great, but the support of the government is needed, primarily to create an environment that will enable businesses to thrive.

“Another major challenge that the government can tap into is to create cluster of businesses and more trade hubs for various subsectors of the economy.

“This will foster partnerships, which will in turn increase the capacity of small businesses to stand on their own instead of going extinct,” Lawson said.

Mr Deji Anifowose, the organiser of the Made- in-Nigeria Project, stressed the need for Nigerians to patronise home grown products.

Anifowose said such attitude would be the way forward for the nation’s economic development as it would go along way boost the value of the naira through exports.