SME Fair thrives with diversified products

In the initial stage of the SME Fair, most of the entrepreneurs used to display fashion designing products, but this time, more than 60 per cent of entrepreneurs are taking part in the fair with a wide range of products.

Visiting the SME Fair that kick-started on November 24 at the Bangabandhu International Conference Center (BICC) in Dhaka, The Business Post correspondent saw that entrepreneurs are showcasing various diversified products including processed agro-food products, handicrafts and leather or jute-made items.

A good number of the women entrepreneurs are taking part in this year’s fair with a wide-range of products. In the fairs organized in previous years, this trend was very low, said SME Foundation Chairman Dr Md Masudur Rahman.

“We are continuing our efforts, through various cluster-based development initiatives, for creating entrepreneurs focusing on different sectors,” he added.

In 2018, out of a total of 271 entrepreneurs taking part in the SME Fair, 154 showcased fashion-designing products while in 2019, nearly 308 entrepreneurs took part in the fair with 152 displaying fashion designing products, according to the data from SME Foundation.

This year, approximately 325 entrepreneurs are participating in the fair through 351 stalls and fashion designing products are being displayed in nearly 130 stalls.

Moreover, around 45 agro-food processing organisations, 38 handicrafts, 36 leather, 35 jute, eight ICT, six light engineering, five plastic product, and three electric and electronic enterprises are taking part in the fair.

Mousumi Aktre is showcasing agro food and fashion designing product in the fair this year, but last year, she took part with fashion designing products only.

She said, “Most of the women entrepreneurs are usually enthusiastic about fashion designing products when they think about a business venture. But this is the high time for changing our view. That is why I started an agro-food processing venture this year along with fashion designing products.”

“Earlier, the SME Fair was familiar mostly for the fashion designing products, but at present, diversified products are being displayed for the visitors. It indicates that a new generation of diverse entrepreneurs is emerging across the country,” said Dr Md Mofizur Rahman, managing director of SME Foundation.

“SMEs are the lifeblood of the economy; so it is necessary to create diversified entrepreneurs for the sake of a robust economy,” he told The Business Post.

This year around 60 per cent of the participants in the fair is female entrepreneurs while 40 per cent are men.

According to the Bangladesh Bureau of Statistics Economic Census 2013, there were 78.8 lakh business establishments in the country with 7.21 per cent run by women.

Informing that no research has been conducted after 2013 over the issue, SME Foundation Chairman Masudur Rahman told The Business Post, “However, we assume that there are nearly one crore business establishments — from cottage to large industries — in the country at present.”

SME Foundation has been organizing the SME Fair since 2012 for promoting and expanding the market of locally produced products as well as to create new entrepreneurs at the BICC in the capital.

From 2012, about 1,886 entrepreneurs have sold products worth about Tk 32.88 crore and received orders worth around Tk 53.50 crore at the event, according to the SME Foundation.

The fair is scheduled to continue till December 3 and open to visitors from 10:00am to 8:00pm every day.