Apparel, household products shine at SME fair

The 11th National Small and Medium Enterprise (SME) Product Fair, held in the capital's Bangabandhu International Conference Center from 19-25 May, is proving to be a hit with buyers, particularly for apparel and household products.

Visitors are impressed by the wide variety of high-quality domestic goods unavailable elsewhere.

The fair boasts a diverse selection of products from various sectors, including readymade garments, jute items, handicrafts, leather goods, processed foods, light engineering products, IT services, and furniture.

Anisur Rahman, a visitor who came with his wife, exemplifies the fair's success. They purchased sataranji, sharis, and jute decor, praising the ability to directly interact with entrepreneurs and ensure product quality.

"There's something for everyone, with prices ranging from Tk50 to Tk15,000," he added.

The Readymade Garment industry has the most significant presence, with 75 participating companies.

The Women Entrepreneurs Forum, representing around 2,000 women entrepreneurs, showcases a diverse range of products, from fashionable clothing to home decor.

Rafia Akhtar, president of the forum, said, "While the demand for our products is good, government support is crucial to enable these small businesses to export. We need access to international exhibitions to showcase our talent."

Visitors like Jananara Begum appreciate the fair's convenience. "There's a fantastic selection of bedsheets at affordable prices," she said.

Swapna Rani Sen, CEO of Rangpur Craft, reports good demand for their traditional Rangpur sataranji table runners and floor mats.

Entrepreneurs from Patuakhali showcase their terracotta products, including dinnerware sets and decorative pieces. Stall salesman Mohammad Rabiul said the fair allows them to promote the versatility of clay products beyond traditional jugs and pots.

Tulika Eco Ltd, a manufacturer of jute products, showcases various aesthetic jute bags, shopping bags, and home decor items. Esrat Jahan Chowdhury, owner of Tulika, sees the fair as a valuable platform for connecting high-quality domestic products with everyday buyers.

However, Esrat emphasises the need to expand promotion beyond the domestic market. "The fair can be a platform to connect with international buyers. Inviting embassies could open doors for marketing these high-quality products in new markets," she said.

While the fair offers delicious food options and educational children's books, sellers anticipate increased crowds, especially during holidays.

The fair also highlights the importance of government support for small businesses. Rubina Akter Munni, owner of a leather goods stall, emphasises the need for policy support to establish compliance factories, a requirement for large-scale exports.

SME Foundation Chairman Md Masudur Rahman reports over 350 participating SMEs, with approximately 60% being women-owned businesses. He highlights the fair's success, mentioning that previous SME fairs facilitated sales of over Tk42 crore and orders worth over Tk72 crore.

Smart financing for marginal entrepreneurs

Meanwhile, a seminar titled "Smart Financing for Smart Bangladesh: Solutions for Marginal Entrepreneurs" was held at the Bangabandhu International Conference Center, organised by the SME Foundation. 

Arfan Ali, former managing director of Bank Asia Limited and Chairman of Zaytoon Business Solutions, presented the main article.

He emphasised the need to finance marginal entrepreneurs using Auto Credit Scoring through technologies like Artificial Intelligence and Data Analytics, especially in light of the 4th industrial revolution. 

Despite advancements, many micro-entrepreneurs are still struggling to access bank loans due to their lack of financial records, he added.

Arfan stressed the importance of financial education for MSMEs, highlighting the benefits of Digital Financial Services in ensuring their business sustainability.

He also called for greater coordination between public and private sectors to promote financial literacy and expand internet connectivity, crucial for the growth of MSMEs.

During the seminar, about ten activists emphasised the importance of an easy financing system for the development of MSMEs. They cited compliance issues, lack of financing options, and incomplete legal documentation as barriers hindering small entrepreneurs' access to loans.

State Minister for Finance Waseqa Ayesha Khan reiterated the significance of maintaining proper financial records for small entrepreneurs to qualify for loans. She highlighted the availability of digital accounting systems to facilitate this process.