Following a seven-year hiatus, Guyana’s premier trade exposition (GUYEXPO) has returned, paving the way for a revival of opportunities and economic growth in the country. However, this resurgence has begun to pose a number of concerns surrounding the pricing for packages and booths by small businesses, which now feel excluded from this platform.
GUYEXPO, first introduced in 1995, has long been a critical platform for businesses to showcase their products and services, attract potential customers, and expand their networks. Over the years, it is said to have fostered innovation, economic growth, and international partnerships. Small businesses, in particular, have benefited from the platform’s potential to catapult them into the spotlight, creating opportunities that were previously unattainable.
However, with skyrocketing prices for registration fees to exhibit at the event, many business owners, especially those who often operate with limited financial resources, now face a significant barrier to entry.
The cost structures that have emerged for GUYEXPO participation have left many small business owners grappling with the high cost of entry. A glance at the price list reveals that renting booths range from $40,000 to a staggering $250,000, for spaces as small as 10 feet in length and width. Moreover, exhibitors looking to display their products and services in the main auditorium are required to fork out $175,000, while renting spaces in the international pavilion comes with a hefty price tag of $375,000.
For individuals interested in selling food through food trucks, the fee stands at $200,000, and those wanting to set up shop in the primary and secondary food courts face charges of $375,000 and $250,000, respectively.
The pricing structure has raised questions about whether it aligns with the broader goals and mission of GUYEXPO. The core question continues to revolve around whether GUYEXPO is heading towards exclusivity instead of inclusivity. The very essence of the event was originally set as a melting pot of ideas, innovation, and commercial exchange for businesses of all sizes. However, the current pricing trends threaten to transform the expo into an exclusive domain catering primarily to larger, financially robust corporations.
In a separate category of offerings known as ‘Sponsorship Packages’, prices have been observed ranging from $500,000 to a substantial $13 million. These packages are designed to include a range of benefits, such as booth spaces, sponsor advertisements, official bragging rights, official VIP packages, website presence, and a host of other privileges.
While these sponsorship packages are intended to provide enhanced visibility and additional perks for those who can afford them, they also raise questions about the inclusivity of GUYEXPO. The vast gulf in pricing between these packages and those available to small businesses further underscores concerns about accessibility and equity.
In response to these high-end prices, persons are pleading with the Ministry to address these concerns to ensure the event’s inclusivity.
“Efforts to ensure that the event offers affordable and accessible opportunities, such as subsidised sponsorship packages or grants for smaller businesses, can help counteract the potential exclusivity that arises from high sponsorship prices,” noted a small-business owner who preferred to remain anonymous
“Owww man, owwww owwww! where local companies will find this kind of money to participate?… Are we being pushed out of our own country? Miami Convention Center, Dubai World Trade Center, Guangzhou Canton Fair don’t have these prices,” said Frank Sanichara in a Facebook post.
In response to the pricing concerns, Stabroek News reached out to the Ministry of Tourism’s Public Relations Officer, Cordell McClure, who emphasised that there hasn’t been any significant increase in the prices since the last expo was held in 2016.
“Prices for booths in this year’s GUYEXPO are pretty much the same as the last GUYEXPO held in 2016, other booths have only seen a marginal increase but nothing significant. I know some people are highlighting the prices but the reality is that the prices aren’t far from traditional prices,” he stated.
McClure further noted that the cost for exhibitors has to do with the location and the type of business being exhibited. He also said that thus far responses from small businesses have been great and have not posed any challenges to this year’s event.
GUYEXPO is expected to run from November 16 to 19 at the National Exhibition Centre in Sophia, Georgetown.
