Importance of Expos for SMEs in Kenya

     

Introduction

Small and Medium Enterprises (SMEs) are very crucial to the economy of a country. They provide jobs for their family members and also contribute to the country’s GDP. This is why Kenya has been focusing on creating a conducive environment that would help SMEs thrive. One way they have done this is by organizing expos where SMEs come together, showcase what they do, network with other SMEs, get mentorship and find potential investors who can partner with them or even buy their products. These expos are very important in the following ways:    

Provides a platform for SMEs to showcase their products.

Exhibitions provide SMEs with a platform to showcase their products. In addition to this, they are able to get feedback on their products and business model. Additionally, they can also get feedback on their business plan to improve it or even change it completely if necessary. This is in line with the word “marketing” as mentioned earlier because all of these things contribute towards selling a product or service which is what marketing is all about.    

Helps the SMEs in widening their market base.

Expos help the SMEs in widening their market base. This is because expos have a large number of visitors, and they attract people from different parts of the world. The expos also give them an opportunity to interact with potential customers who can buy their products or services. By interacting with these people at the exhibition, they get to know what their needs are, what kind of products they need, where they would like to get it from and how much money they can spend on it.    

One on one marketing.

One on one marketing is the best way to reach out to your customers. It’s not a surprise that it’s so effective, as this kind of marketing makes you personalize a product and make it relevant to the customer. When you are personalizing products, you are making them relevant to specific customers; this increases their interest in buying the products because they feel like they have received something tailored for them personally. This also builds trust between a seller and buyer because they can see that they have been given their own special treatment by having something made especially for them. The customer feels like he/she was listened to by those selling him/her something; this creates trust between both parties which leads into better sales conversions later on down the road when compared with traditional advertising techniques such as billboards or flyers being distributed across town without taking into account specific needs from individual customers beforehand.  

Creating networking opportunities.

Networking is one of the most important aspects of expos. It’s an effective way to build business relationships and find opportunities for collaboration. For example, if you’re looking to grow your business, networking can help you find new customers or suppliers. Perhaps there are some companies that sell products similar to yours that would be interested in partnering with you at an expo? Or maybe there are other businesses selling similar services who could provide referrals for customers who might be interested in your products? In addition, networking can also help find talent for your company as well as potential partners for future ventures.    

Opportunities for getting capital loans.

There are various types of loans available, including working capital loans, which are meant to cover operational expenses. Another type is the capital investment loan, which can be used for a variety of purposes. This includes purchasing equipment and machinery to expand your business or purchasing land and buildings for use by your enterprise. Loans are also available for individual farmers who want to start their own farms or improve on their existing ones.    

Provide mentorship and business advice.

Mentorship is the process of learning from someone who has been through what you are going through. It can be informal or formal, one-to-one or group based. Mentors can help you with any area of your business that needs improvement or guidance, such as marketing strategy, customer service and sales techniques. Mentors provide valuable advice on strategies that have worked in their own businesses as well as insights into how they overcame problems in their own businesses. They also share tips on how to avoid certain mistakes that might derail your progress if you were to make them yourself!    

SME expos are beneficial to the individual and country’s economy.

SMEs have a huge role to play in Kenya’s economy. They are responsible for creating employment, wealth and innovation. SME expos help to boost the growth of small businesses which will in turn enhance their overall performance and thus help in boosting the country’s economy. SME expos provide an avenue for small businesses to exhibit, network and share experiences with fellow entrepreneurs from other countries. Through these expos, many new ideas that can be adopted by others or improve existing ones are generated by participants who attend such events.      

Conclusion

With the above benefits, SMEs should consider participating in expos. The companies are assured of increased market share once they participate in expos. Expos also provide an opportunity to get capital loans and learn from other experienced businesses. This will eventually result in more jobs being created, thereby boosting the economy of Kenya.