BITS and Pieces

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5 reasons why Indian SMEs should participate in Trade Fairs in Germany

The Indian economy is all set to soar high, riding on the back of the over 48 million Small and Medium Enterprises (SMEs) that will increase their share of the GDP to a robust 25%. +

Germany, on the other hand, has been the world’s no. 1 destination for international trade fairs, with the country playing host to over two thirds of the world’s leading trade fairs.

Furthermore, on the backdrop of the various initiatives undertaken by the present government to boost SME trade, the future only looks brighter and Indian SMEs would do well to increase their footprint in global markets, while continuing to consolidate in the local one.

Here are 5 reasons why Indian SMEs should visit trade fairs in Germany and soon:

  1. It’s a great way to find new customers and take back so much more

With over 1,80,000 exhibitors and over 10 million visitors every year, trade fairs in Germany are a great platform for you to generate new leads for your products and services or to find the right vendor if you are looking to buy something.

It is also a great place to get an overview of your own industry, experience the latest technology, get new ideas to improve your business, discuss technical issues, find innovative solutions and generally look at what your competitors are doing.

  1. It’s an opportunity to explore Mergers & Acquisitions

Germany has an increasingly aging population, coupled with a negative population growth of -0.16%. The average age of its population is 46.5 years and over 35% of its people are above 55 years of age. *

With a dearth of second-generation entrepreneurs to take up family-owned Small Businesses, many of the thousands that form the backbone of the German economy could be more open than ever before to tie-ups, joint ventures, mergers, acquisitions or even buyouts.

Setting up meetings through the right channels on the sidelines of a trade fair could provide the perfect opportunity for Indian SMEs to conduct meaningful dialogue with interested companies.

  1. There are opportunities beyond the obvious

Industry thrives in dozens of cities across Germany, unlike in many other countries where it is concentrated only in a few cities. Moreover, Germany shares its borders with nine other countries.

With more than 15 trade fairs taking place every week in every other city in Germany, meticulous planning will ensure that you are able to visit more than one trade fair to optimise your gains and also set up meetings with potential leads or collaborators in neighboring countries.

  1. It won’t burn a hole in your pocket

To the average Indian, a ‘foreign trip’ always looks like a costly affair. That is at best hearsay, general impression or both. But the truth of the matter is that one can still manage a visit on a shoestring budget.

Planning ahead, booking tickets and accommodation using the right websites and sharing costs with fellow visitors can ensure you save enough money to make it all look well worth it.

  1. There are a few for you, irrespective of which industry you belong to

With over 150 international and a few hundred regional trade fairs taking place every year, no country, apart from Germany, offers trade fairs across virtually every conceivable industry. So no matter what industry you belong to, you can be sure to find one, or even a few trade fairs, that are just right for you.

The way ahead…

Come December, and BITS, in association with the BVMW (German Federal Association of SMEs), will organise the SME Trade Fair Connect, a seminar for SMEs on generating business opportunities from Trade Fairs in Germany.

Write to us at projects@bitsindia.co.in or call us on 83800 31438 for more information or to register.

+ Source: Economic Times 30 December 2016

* Source: CIA World Factbook

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Sandeep Nulkar Founder, Chairman & Managing Director, BITS Private Limited Sandeep Nulkar heads one of India’s largest translation and localisation companies. He is a linguist by passion, businessman by choice and author by circumstances. Over the past decade, he has been working closely with the corporate world and with students and the academia to bring credibility and recognition to the Indian translator within and outside India.