Business Development Ministry, Trade Fair to build SMEs capacities

The Ministry of Business Development and Ghana Trade Fair Company have initiated processes aimed at holding business seminars for Small and Medium Enterprises (SMEs) during the upcoming Ghana International Trade Fair event.

The planned seminars which are expected to run concurrently with the trade fair itself will centre around building capacity of SMEs and guiding them as to how to grow their businesses in the competitive and challenging market environment.

This week, the ministry and the trade fair company are having a committee meeting towards the planned seminars. Seminars are also being designed for start-ups to participate in and to learn all aspects of starting an early stage development of a business.

This capacity building is necessary as a number of indigenous enterprises are faced with inadequate capital, lack of capacity to introduce their products and services to the local and international markets and a host of other challenges.

Briefing the Goldstreet Business, the Chief Executive of the Ghana Trade Fair Company Dr. Agnes Adu said getting funding for start-ups has been one of the major problems in the business environment and in building capacity of SME’s, it is important to invite the banks so as to establish good working relationships with them.

“We have invited the banks to be part of the event. This has been useful and it is critical that the trade fair empowers start-ups and gives them the tools they need to grow. Running a business is knowing how to run every aspect of the business.

“Last year, Morocco brought six companies to find local partners to work with. When you are an exhibitor at the fair, you can take advantage by going to various stands to see if the service you offer is something they are also looking for”, Dr. Adu said.

Aside this, each participating country has been given at least a day to hold their respective country-specific seminars. For instance, last year, Nigeria organized a seminar where they educated businesses in Ghana on opportunities and procedures for doing business in that country.

The 23rd edition of this year’s trade fair which holds from February 28, through to March 11, 2019 is encouraging for SME’s as it is expected to target the trade and business opportunities open to them and what is required to exploit them.

The Trade Fair Company has put in place some measures to support SME’s that will be participating in the event and this basically includes how such indigenous enterprises can pitch their products and services to local and foreign markets.

These pitching ideas include procedures on how to attract useful partners into their respective businesses, how to pitch the products to the customers going to use them, and how to get funding, including the procedures involved in approaching a bank.

Last year, over 600 exhibitors displayed their various goods and services during the event.