Mauritian entrepreneurs get visibility
Besides a platform to showcase their products, this event represents a golden opportunity for around 100 local SMEs and entrepreneurs to network with vital stakeholders such as industrial buyers, important suppliers and big enterprises. (Image: business.mega.mu)
In a big boost to entrepreneurs on the island nation, a four-day Small and Medium Enterprises (SME) fair will be held starting today to exhibit local products and provide small businesses with an opportunity to network with other SMEs, suppliers, traders, industrial buyers and large enterprises. The event has been organised by the Small and Medium Enterprises Development Authority (SMEDA) at the Municipal Council of Vacoas-Phoenix.
The fair is intended for SMEs with an annual turnover less than Rs 50 million. Its primary objective is to raise awareness about the know-how of local entrepreneurs, and increase the visibility of locally-manufactured products. Accordingly, it will exhibit a wide range of indigenous products from across the country.
Besides a platform to showcase their products, this event represents a golden opportunity for around 100 local SMEs and entrepreneurs to network with vital stakeholders such as industrial buyers, important suppliers and big enterprises.
The fair will bring together SMEs operating in the fields of textiles, leather products, jewellery, wood carving and sculpture, decorative handicrafts, plants and other value-added products.
To give an idea of the leaps and bounds by which the SME sector is growing, from January to May alone, as many as 614 new enterprises have been registered at the SMEDA.
Further, the SME sector is a growing segment in Mauritius, and contributes a whopping 40% to the Gross Domestic Product (GDP). Also, it has massive job creation potential, with more than 85% of the jobs created in 2012 having come from this sector. So, among the 9,300 jobs created in 2012, as many as 8,000 grew out of the SME sector.
Several incentives and facilities have been put in place to spur on the SME sector and transform Mauritius into a nation of entrepreneurs. Amongst them, the noteworthy schemes are the Mauritius Business and Growth Scheme Technical Assistance Scheme and the SME Financing Guarantee Scheme. Besides, incentives such as participation in public procurement, promotion of the ‘Made with Care’ label, construction of industrial spaces for SMEs at affordable tariffs, and the Start-up Entrepreneurship Scheme are also expected to take small businesses to the next level.
Source: Government of Mauritius