The 11th National Small and Medium Enterprise (SME) Product Fair 2024 achieved unprecedented success, with product sales totalling Tk13 crore and orders amounting to Tk20 crore. This marks the highest figures compared to previous years, demonstrating the fair’s growing impact on the SME sector in Bangladesh.

Rashedul Karim Munna, director of SME Foundation, announced the figures today while addressing reporters at the fair. Reflecting on the event’s success, Munna highlighted the fair’s shorter duration this year due to hall booking constraints. “Last year’s fair was a 10-day event. This year, we could not book the hall for more than seven days. We are planning to hold a 10-day fair in the future. The goal of our fair is to bring entrepreneurs scattered across the country under one umbrella,” Munna stated.

Discussing the engagement with foreign buyers and future plans, Munna added, “Some foreigners, some buying houses, and some local big entrepreneurs have placed orders. We are planning to bring in officials from foreign embassies located in Bangladesh to further promote entrepreneurs’ products at the fair in the future.”

The 7-day fair, held from 19-25 May at the Bangabandhu International Conference Center in the capital, concluded tonight. This year, more than 350 SMEs participated, with around 60% being women entrepreneurs, underscoring the increasing involvement of women in the SME sector.

Salahuddin Mahmud, managing director (additional charge) of SME Foundation, noted the high level of interest from entrepreneurs during the fair. “About 10,000 entrepreneurs visited the stalls of banks and financial institutions at the fair, and about 1,000 entrepreneurs applied for loans,” Mahmud said. This indicates a strong demand for financial support among SMEs, further highlighting the fair’s role in facilitating access to necessary resources.

The SME Foundation organises this annual fair to encourage and promote small and medium enterprises across Bangladesh. The fair is a vital platform for SMEs to showcase their products, network with potential buyers, and seek financial assistance. The significant increase in sales and orders this year compared to the previous edition reflects the fair’s effectiveness in boosting visibility and business opportunities for SMEs.

In 2022, the 10th National SME Product Fair saw product sales of Tk12.15 crore and product orders worth Tk19.36 crore. The 2024 fair’s higher figures not only set new records but also highlight the growth trajectory of the SME sector in Bangladesh. This year’s fair has set a new benchmark, demonstrating the potential of SMEs to contribute significantly to the national economy.

The SME Foundation aims to expand the fair’s duration and enhance its international appeal by inviting officials from foreign embassies. Such steps are expected to elevate further the profile of Bangladeshi SMEs on the global stage and attract more foreign buyers, thereby creating more opportunities for local entrepreneurs.