The Role of Trade Fairs in Promoting Entrepreneurial Pursuits

Introduction

1.1 Background of the Study

According to (Encyclopedia Britannica), trade fairs are temporary markets organized together to transact business. Though trade fairs, manufacturing companies have a direct contact with the public for strategic or competitive reasons.

The aim has always been to expose the rich potentials of the country for economic and social development of the nation. In such exhibitions, the products of interest to buyers, investors or interest groups are exhibited, in doing so Nigeria would diversity from relying so much on crude oil and will improve other sectors of her economy.

Through trade fairs many investors have been invited to come and tap the abundant natural resources of this country. We need industries electricity, water supply, railways and good network of road, high ways and bridges. At this point of nationhood, producers should produce manufactured products and export for foreign earnings. Trade fairs have been organized over the years at different locations or regions and such trade fairs include those held at Lagos, Kaduna, Enugu and Uyo annually. The purpose of this research is to examine the role or impact of these trade fairs in promoting entrepreneurial pursuits in Akwa Ibom State.

1.2 Statement of the Problem

The problem of Akwa Ibom State includes lack of fair village and disunity of the various chambers of commerce in the state. The state’s economic potentials are enormous but finance and investors to tap the resources have been lacking. This requires not only the private sector initiative induced through the exhibitions of these rich potentials and resources but also political wall to attract these investors.

This study intends to find out the problems and remedies to the role of trade fairs in promoting entrepreneurial pursuits in Akwa Ibom State. In will seek to answer the following questions;

1. Can participation in trade fairs improve economic performance of the state?
2. Can trade fairs bring about economic development of the state?
3. Can trade fair contributions enhance economic development in the state?
4. What are the problems associated with the development of the state through trade fair?
5. Will the product of the industrialized nation put on show; style the performance of the home economy?

1.3 Objectives of the Study

The following are the specific objectives of the study;

1. To examine the benefits associated with the participation in trade fairs by entrepreneurs.
2. To examine the extent to which trade fair participation has led to the economic growth and development in the state.
3. To examine the problems associated with the participation and organization of trade fair by chambers of commerce and industry.