Judith Phiri, [email protected]
THE inaugural MSMEs Summer Expo has kicked off in Bulawayo, bringing together entrepreneurs and small businesses from various sectors, with the Minister of Women Affairs, Community, Small and Medium Enterprises Development, Senator Monica Mutsvangwa, expected to officially open the event on Friday.
The three-day expo, being held at the City Hall car park, provides a platform for local businesses to showcase products ranging from handmade crafts and fashion to food and other goods.
Globally, micro, small and medium enterprises (MSMEs) account for about 90 percent of businesses, employ 60 to 70 percent of the workforce and contribute approximately 50 percent of gross domestic product (GDP), according to the United Nations.
In Zimbabwe, the 2021 MSME Survey and the 2022 FinScope Survey indicate that the sector contributes more than 60 percent of GDP and employs about 4,8 million people on a full-time basis.
In an interview, Bulawayo Chamber of SMEs vice-chairperson Ms Sithabile Bhebhe urged local entrepreneurs to use the expo to showcase their products, expand their markets and increase production.
“MSMEs are driving and immensely contributing to economic prosperity not only to the national GDP but provincial GDP as well. They have become a big economic force in the country and across the globe.
“In Bulawayo, MSMEs play a pivotal role and positively contribute to the city’s GDP. As a chamber we are calling upon them to capitalise on events such as this Bulawayo MSMEs Winter Expo to showcase unique products that can attract customers for them and boost their production,” she said.
Ms Bhebhe said innovation and improved product and service quality were essential for small businesses to remain competitive in a changing business environment.
She added that expos and trade fairs offered entrepreneurs valuable marketing and networking opportunities.
“Exhibiting at these expos allows MSMEs to meet other businesses and organisations not only in their area but from other parts of the country. Networking is an automatic benefit to attending these expos, coupled with brand-building awareness, boosting sales, getting direct feedback on products and services as well as gaining market share.”
Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland Chapter former vice-president and businessman Mr Louis Herbst said the expo offered small businesses an opportunity to assess their readiness for growth, particularly in terms of branding and long-term business strategy.
“It is an opportunity for our SMEs to ask whether the businesses they are building have the brands, ambition and resilience required to grow. For me, branding is no longer a marketing exercise, it is a business strategy,” he said.
Mr Herbst said Bulawayo had many entrepreneurs producing quality goods and delivering good services, but warned that quality alone was not always enough to succeed in a competitive market.
“Bulawayo has no shortage of entrepreneurs producing good products and delivering good services. But in an increasingly competitive market, being good is not always enough. Customers need to recognise you, trust you and remember you,” he said.
