Financial Incentive for Participation in Exhibitions and Fairs Mutually Beneficial to Exhibitors and Organisers – Plays a Bridging Role as Described by
To be in line with the development of Macao’s moderate economic diversification, as well as encouraging local enterprises, especially SMEs to actively participate in conventions and exhibitions, IPIM has launched various measures under the Financial Incentive for Participation in Exhibitions and Fairs more than ten years ago. The programme aims to encourage local enterprises to make use of the trade and economic platform provided by MICE events to showcase their commodities and make direct contact with their clients and optimise the promotional effect. The programme has been well received by Macao enterprises over the years. According to several enterprises frequently applying for the incentive, the measures not only provided them strong financial support, but also served as an indicator assisting them to seek for suitable events. They believed that the financial incentive play a major bridging role between exhibitors and the event organisers.
Ms Iong of a domestic shoes trading company said that her company has applied for the financial incentive for more than 40 times over the past decade. SMEs may encounter difficulties in going global due to the lack of experience in participating in outbound events. In addition, the participation costs for overseas exhibitions are relatively higher than local events, therefore, it is very difficult for them to take part in these events at a regular basis without the financial incentives.
According to Mr Lao, operation director of a sales agent of environmentally-friendly water purification facilities mainly participated in local exhibitions, the company frequently applied for the financial incentive in recent years. As there are only limited means of publicising the company in Macao, participating in exhibitions has become a very effective platform. By applying for the financial incentive, the participation costs are reduced thus encouraging local SMEs to actively participate in exhibitors and explore businesses.
Ms Ng, executive director of a photography company which has participated in more than twenty MICE events over the past year, said that the costs for participation in quality and effective exhibitions is high and requires extensive manpower resources. She described the financial incentive as an important bridge between participating enterprises and event organisers, ensuring the smooth-running of event preparation which is mutually beneficial to both parties. The government support is an assurance of confidence to the SMEs.
To ensure that the Financial Incentive for Participation in Exhibitions and Fairs can better cater for the needs of local SMEs, and provides greater facilitation to the applicants, IPIM has streamlined the application procedures in February this year and earned widespread recognition from the applicants. Ms Iong said that, in comparison with other regions, IPIM’s application procedures are relatively simple, resulting in a save of time which is a great help to the applicants.