Tuesday, June 10, 2008 Firm to host SME retail trade fair in Cebu
PHILIPPINE micro businesses will be promoted in the upcoming Retail Trade Fair at the SM Trade Hall in SM City Cebu on June 12 to 22.
This focus on micro businesses is timely, given the current state of the Philippine economy. Filipinos are actively looking for ways to supplement their household income and one of the easiest entry points into business is currently the retail industry.
Majority of the players in the retail industry can be considered micro businesses.
Under Republic Act 9178, otherwise known as the Barangay Micro Business Enterprise (BMBE) Act, micro businesses are those with capitalization of P3 million or less.
According to the National Statistics Office, micro-enterprises account for 97.1 percent of all business establishments in the country.
In addition, Cebu and Region VII belong to the top five regions where micro, small and medium enterprises are located.
This is why Crinnovent Corp., the organizer for the event, is holding the Retail Trade Fair in Cebu.
Exposure
“This event is aimed at further boosting the micro retail sector,” said Jodie Lynn Soontit, project manager.
“It is intended to assist Philippine micro retailers in expanding their markets and providing them with valuable exposure for their products and services.
The event will also provide retail business suppliers with opportunities to expand their contact databases and allow them to further promote themselves.”
The event already has the support of the Department Of Trade And Industry, as well as the BMBE through the Cebu City Hall.
The BMBE will have its own booth at the event. Its personnel will be available to answer questions and share information needed by retailers and other micro businesses. They will also be handing out application forms for those businesses that wish to register with the BMBE.
One of the benefits of being a BMBE-accredited member is exemption from minimum wage laws.
Featured retailers include garments and RTW, consumer electronics and accessories, gifts and novelties, fashion accessories, car accessories, arts and craft, native specialties and specialty items.
Featured retail business suppliers include information technology, financing and loans, electronics and equipment, professional services, outsourcing, manufacturers, wholesalers and distributors.
“We are happy to say that for the first retail fair, we have a good range of participants,” Soontit said. “We have exhibitors coming from Manila and even from Mindanao, in addition to those located here in Cebu.”
“From what we have seen in their applications, there will be a lot of attractive bargains from the retailers as well as special trade offers from the suppliers.”
The event is also supported by Unionbank of the Philippines, Globe Business, Olympus, Colours Digital Foto and Nine Yards. (PR)
