The Need for High-Value-Added Products in SMEs

The reason why high value-added products are important for SMEs is to remain competitive.

To counter inflation and cope with shrinking demand, SMEs will be required to develop and offer products incorporating more advanced technology and design to the market in FY2024 and beyond.

SMEs can differentiate themselves from competitors by offering products that meet customer needs.

In addition, while high value-added products are more expensive to produce, they tend to have higher profit margins. Therefore, SMEs can increase their revenues by developing and selling high value-added products.

However, in order to develop high value-added products, it is necessary to secure and train personnel with more advanced skills and designs. Therefore, SMEs need to focus on recruitment and training.