Small and Medium Enterprises (SMEs) have been urged to find innovative ways of doing business for sustainability and reliability.
“Embrace new ways of doing things differently; add value, know your target, do market research, set standard to be able to connect your business to the world,” Albert Armooh, a Consultant for the International Trade Centre (ITC), has said.
According to him, individuals taste and preference have changed over the years and it behooves on businesses to have a niche and serve the niche according to changes in technology and the world at large.
He was speaking at a one-day training on Sustainability Map tool for SMEs in the Western Region at Takoradi.
The training forms part of activities under the Association of Ghana Industries (AGI)-SNV GrEEn project.
Topics discussed included MSMEs Innovation and Sustainability, Voluntary Sustainable Standards, Sustainable Road Map, among others.
Mr. Armooh noted that starting a business is not easy; but with commitment and perseverance, the business would be able to stand the test of time.
He pointed out that some SMEs failed because of lack of a well-defined vision for the business, inadequate operation funds, and not paying attention to the buyer persona.
“Knowing your target market will enable you to customise your products and services to meet the needs of your clients,” he added.
Sustainability Map tool
He explained that Sustainability Map tool is a free online gateway that enables businesses to promote their sustainability practices, gain visibility in the international supply chain, and connect to international buyers.
Companies, he said, can easily create and manage online profile and start marketing their businesses. Since its launch in 2017, over 50,000 companies – including international buyers, intermediaries and producers – from more than 20 countries have created their company profiles on Sustainability Map.
He mentioned that SMEs would benefit from Sustainability Map tool by getting access to international markets, creating, as well as managing a company profile.
“It is free and very easy to do by presenting company to the global network of companies and connecting with buyers, generating a QR code to share with existing or potential clients, and then making SMEs more attractive to buyers,” Mr. Armooh said.
Again, he said the Sustainability Map tool enables businesses to share information about their company, location, production, existing certifications and sustainability practices, and get endorsements from current buyers, as well as enhance the trust of future potential buyers.
“It helps buyers and consumers to understand where products they consume or wear come from, how they were produced or manufactured, and the people who produced those goods,” he concluded.
