Small and medium enterprises are among the most important contributors to the Namibian economy; however, they are faced with many challenges when pursuing cross-border trade.

This was revealed in an interview with the Director of SME's Compete, Danny Meyer, on nbc's Good Morning Namibia show.

Namibia has a small domestic market of 3 million people, requiring SMEs to explore the potential of the export market to scale up their businesses.

Meyer, however, stated that one of the major challenges is the different rules and regulations in the international markets, making it difficult for business owners to navigate bureaucracies in foreign countries.

He encouraged business owners to do extensive research and engage in networking to make informed decisions when attempting to do cross-border business.

"So we recommend you go on an LSD trip. The acronym LSD denotes look, see, and discover, or look, see, and decide. And so you get the feel of that market. Whichever sector you're in, in terms of provision of goods and services, go and sniff out what is the market, what are their packaging requirements, what are their likes, and what are their dislikes."

Meyer further emphasised that networking and the understanding of operational frameworks in foreign countries are critical to business success.

He urged SME owners to leverage bilateral and multilateral agreements, engage with public and private sector platforms, and use support from the Ministry of Industrialisation and Trade to adopt a strategic export mindset.

"So a lot has been done. The Ministry of Industrialisation and Trade does have an international division that focuses specifically on helping enterprises participate in expos and trade shows in neighbouring countries. So entrepreneurs who have a yearning think they're right to penetrate the export market; make contact with the ministry."

Meyer said Namibia's proactive approach to fostering trade and integration into global markets offers significant opportunities for entrepreneurs.