BRELA challenges SMEs on market opportunities

THE Business Registration and Licensing Agency (BRELA) has said most entrepreneurs fail to take advantage of the market opportunities for lack of registered business names.

Brela’s Assistant Registrar, Mr Benedickson Wilson said this in Dar es Salaam at the weekend during the Barcodes exhibition that registered business names to enable entrepreneurs’ products to penetrate a wide market and ensure sustainable business growth.

“Business name registration will enable the SMEs to get legal ownership of the brand while making the product reliable as people will get assured of the quality and standard of the products,” he said.

He added, “Registration of a business name is vital to the business development since it gives the acknowledgement of the product in the markets,”

Regarding the registration payment charges, Mr Wilson said costs are bearable to the SMEs since the authority is optimistic about helping the entrepreneurs to flourish their businesses.

GS1 Tanzania, as the organiser of the event, through their Marketing Officer, Mr Abaniel Mark said the purpose of the fair is to link up the SMEs and company owners to showcase their products and be able to extend their services.

He said the organisation which is mandated to provide barcodes and identification numbers, is optimistic about helping the SMEs find a market for their products.

He added that GS1 has supported more than 5,000 entrepreneurs to find markets.