SMEs’ retail presence vital, says consultant

THE retail presence of small to medium enterprise (SME) products is important for growth, according to a consultant marketing development firm.
Strategic Communications managing director Andrew Runawery said: “You spend more money on Facebook sales and deliver small quantities without considering the cost of fuel just for one sale, the next biggest risk is the amount of competitors on Facebook.”
Runawery said this while hosting a SME supply chain business to business event in Port Moresby last month.
“These weekend markets disrupt consumer traffic and cash flow, some of the products are at an embryonic stage, not ready for trade and SMEs release them too fast without proper development,” he said.
“Retail trading captures goods and services tax (GST) and has the biggest opportunity for repeat sales and increased volume.
“The weekend markets avert GST and choke sales.”
SMEs that had retail worthy products were urged to seriously develop their strategies.
“SMEs that have retail worthy products need to seriously develop their strategies and not be easily swayed by Facebook groups and markets,” he said.
“If SMEs want to make it to the top like global brands, they have to shift their way of thinking, they have to be patient to develop something good.”
Runawery said a supply chain was a network between a company and its suppliers to produce and distribute a specific product to the buyer.
“Supply chains represent the steps it takes to get a product or service from its original state to the customer,” he said.