MSME entrepreneurs’ target: P5M revenues in 11-day run
Assistant Regional Director Nelia Navarro of the Department of Trade and Industry (DTI) in Central Visayas (4th from left) leads the opening of the Sinulog Trade Fair at the SM City Cebu. The trade fair started on January 12 and will close on Jan. 22. CDN PHOTO/JOSE SANTINO S. BUNACHITA
IT’S SINULOG TRADE FAIR
The 79 micro, small and medium-scale enterprise (MSME) entrepreneurs, who are participating in this year’s Sinulog Trade Fair, are targeting to hit P5 million in revenues for the trade fair’s 11-day run at a Cebu City mall.
Ma. Elena Arbon, Department of Trade and Industry (DTI) Cebu provincial director, said they are only targeting to generate around P5 million in revenues from the fair – much lesser than last year’s sales which went to more than P8 million.
Smaller display space
Arbon tagged the smaller display space allotted to them this year, which would mean they could only accommodate the 79 entrepreneurs, as among the reasons for the lower target-revenue goal.
“We only have lesser exhibitors since we have a smaller space, although there were a lot of interested exhibitors. We will also run for only 11 days,” she told reporters during the launching of the trade fair on Friday (January 12).
A total of 79 MSME entrepreneurs in 72 booths are participating in the trade fair which started last January 12 and will last until January 22.
Of the participating exhibitors, majority or 48 of them are from Cebu.
Cebu’s OTOP products
Five local government units in Cebu are also featuring their products in the trade fair under the DTI’s One Town One Product (OTOP) program. These include the rosquillos of Liloan, chicharon of Carcar City, torta and tableya of Argao, guitar of Lapu-Lapu City, and masareal of Mandaue City.
There are also 18 exhibitors from outside Cebu including two from Bohol, five from Davao City, three from Caraga, one from Baguio City, three from Negros Oriental, one from Palawan, one from Iloilo City, and two from Zamboanga.
“Good luck to everyone. Your success is also our success in DTI. The more market you have, the more your businesses will grow and the more we feel in DTI that our programs have been successful,” Arbon told participating exhibitors during the launch.
Product lines
Among the product lines featured in the trade fair are gifts, decor, and housewares; fashion accessories; processed food; health and wellness products; and agricultural products.
The trade fair is located at the Atrium A and D, and Mosaic E areas of SM City Cebu.
Last year, in addition to these areas, the fair also included the Mosaic F area. They also had 83 booths in 2017 compared to only 72 this year.
DTI Cebu hopes to capitalize on the influx of domestic and international tourists in Cebu for Sinulog in order to give an avenue for producers and manufacturers to meet new buyers, and establish possible linkages with other suppliers.
14 years
The trade fair has been done annually since 14 years ago, although, it was only five years ago when it was transferred inside SM City Cebu.
Assistant Regional Director Nelia Navarro of DTI Central Visayas (DTI-7) and Assistant Secretary Demphna Du-Naga of the DTI-7 regional operations group attended last Friday’s trade fair launching.
Tips shared
Du-Naga, who is a successful businesswoman in Masbate, shared tips on how to become a successful entrepreneur to participants of the trade fair.
“Believe in yourself. Hindi ka magiging successful kaagad (You won’t be successful right away). I failed three times before. Huwag kang manghinayang sa pera, basta ang importante may nalaman ka (Don’t feel bad with losing money, what’s important is you learn something from failures),” she said.
Her secrets to success in business included prayer, passion, hard work, strategy and one’s personal relationships.
Defining deal
She shared her experience on how she bagged her first big flour distribution deal in Masbate with a major flour company in the country.
She said that the negotiations involved persistence, aggressiveness and ambitious goals to deliver that her husband was prompted to even comment that they could not possibly do the distribution with their current capacity.
Eventually, she managed to close the deal with the president of the flour company allowing her to have a one-month credit limit which she even stretched to a 90-day period.
Her business has since grown and helped her to send her four children to finish school — three of whom are now lawyers while another one is a pharmacist.
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