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Tuesday, August 16, 2022

Jermatz Galore Lucrative Discounts at SME fair

Nearly 325 entrepreneurs from over the country showcased their products and drew audiences by offering substantial discounts at the ongoing National SME Fair-2021, which began on Sunday (Dec-5) with people thronging in front of the stalls.

Prime Minister Sheikh Hasina is virtually inaugurated the 8-day long small and medium enterprise (SME) fair at Bangabandhu International Conference Centre (BICC) on 5th December to help small and medium entrepreneurs promote market that was hit hard by the Covid-19 pandemic.

The Small & Medium Enterprise Foundation (SME Foundation) has organised the 9th edition of the fair.

Jermatz Limited has participated in the ongoing fair to showcase their products. Jermatz has been meeting the local demand for jute products since 2015. Its managing director, Ismat Jerin Khan, said they have come up with approximately thirty diversified jute products such as runners, wine bags, round floor mats, oval mats, fruit baskets, square baskets, dinner mats, table mats, hand bags, and ladies purses at the fair.

“In this fair, we comprise a couple of items such as- Home decor item rugs, basket, bedsheet and shoes and all are made of jute,” added Ismat Jerin Khan.   

In last year’s fair, Baskets and floor mats were the most saleable products which ranges between Tk 80 and Tk 1,000 at the fair. This year, 20 percent discounts are being offered on different jute products.

However, “We also take corporate orders for those who are willing to place an order,” she added.

When asked her about the price, she replied and said all the products are available within the price range of Tk 50 and Tk 5,000.

Opining about exporting jute products, she said “We already export jute products to countries like Germany and Austria,”

Talking about her entrepreneurial journey, she said, initially, it was not like lap of luxury at all, the beginning was hard to commence a new business as my capital was small. Apart from facing curb with initial investment, the other limitations were choosing right people and favorable place for the business, communicating with buyers, penetrating the local and international markets and building the brand image of the company.                      

Describing some challenges, Khan pointed out that jute yarn is spun and prepared for use in weaving, knitting, and manufacturing sewing threads. This raw material should be available more in our country,” she said.

Designing labs for making innovative jute-based products in accordance with recent international trends can extend the reach of this trade, she suggested. 

SME foundation plays an important role in developing young and new entrepreneurs by providing training, networking, skill development in technology and cluster base product development.

Since its inception in 2007, the SME Foundation has been working with the SME Division of Bangladesh Bank, the industries ministry, and the Bangladesh Small and Cottage Industries Corporation (BSCIC) to promote SMEs. Its target is to alleviate poverty and generate employment to accelerate economic growth.

In total, 325 SME entrepreneurs are participating in the fair, exhibiting locally made jute products, food and agro-processing products, leather goods, electrical and electronics products, light engineering products, IT products, plastic and other synthetic goods, handicrafts, and design and fashion wear products.

Entrepreneurs at the ongoing SME fair-2019, the country’s biggest small and medium enterprise (SME) fair, are experiencing brisk business thanks to increasing sales as buyers continue to cut product prices and offer lucrative discounts to visitors thronging their stalls.

The array of products included bags, purses, folders, table mats, prayer mats, doormats, rugs and room dividers, among others.

The exhibitors filled their stalls with products of various designs and colours to attract people. The fair, held at the Bangabandhu International Conference Centre (BICC) and organised by the SME Foundation, will end on December 12.

Sharif Ahmed

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