Small businesses, whether they are shops, farms, or tourism services, contribute a significant 18 percent to Fiji’s economy and employ 60 percent of our workforce.
It is essential to recognise that National Small and Medium Enterprises (NSMEs) play a significant role in advancing the national objectives outlined in the UN-sanctioned 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs).
In the face of various challenges, there exist significant opportunities for growth and development.
For four entrepreneurs of Lamini Village in Taveuni, their roadside business got a boost when Deputy Prime Minister and Minister for Trade, Co-operatives, Small and Medium Enterprises and Communications, Hon. Manoa Kamikamica, handed over their ‘Grant Agreement’ under the Trade Enhancement Programme administered by the Northern Development Programme.
In his address during the grant handover, DPM Kamikamica emphasised that his visit was to engage with the recipients to foster collaboration and facilitate knowledge sharing, aiming to strengthen their relationship with the Ministry moving forward.
“Government officials often assume that everything is functioning smoothly once grants or assistance have been provided. However, visits conducted by our Ministry often reveal additional areas for improvement, particularly following consultations with grant recipients,” stated the Deputy Prime Minister.
“This comprehensive approach not only strengthens the NSME sector but also contributes to the overall economic development of the nation.”
“Reaching into the rural sectors is essential for addressing poverty in Fiji, emphasising the importance of micro, small, and medium enterprises (MSMEs) as vital job creators and catalysts for economic activity.”
Grant recipient Ms Seinimili Veikoso, speaking on behalf of the recipients, expressed their gratitude to the Ministry of Trade, Co-operatives, Small and Medium Enterprises and Communications.
“This visit by the Minister to deliver the grant agreement was an unexpected but appreciated gesture of support,” said Ms. Veikoso.
She adds that the funding is anticipated to enhance their business operations, ultimately benefiting the well-being of their families.
Micro, Small, and Medium Enterprises globally constitute 90% of all businesses, providing 60% to 70% of employment, and account for 50% of the world’s GDP. Fostering the growth of these enterprises in Fiji can significantly contribute to sustainable development and economic growth.
In the past three years, Micro, Small, and Medium Enterprises (MSMEs) have played a vital role in Fiji’s economy, generating approximately 190 million in tax revenue.