iTaukei-owned businesses make up less than five per cent of businesses operating in Fiji and renewed efforts have begun to improve the scenario.
Chairman of the Fiji Indigenous Business Council (FIBC) Ulai Taoi said the last meeting of the council was in 2014, after which directors decided it would meet again when a new government was in place.
He said FIBC membership had declined from 136 in 2006 to 35 in 2014 to “no membership figures to report” this year.
Mr Taoi issued a call for unity to indigenous entrepreneurs and called on Government to support medium to small indigenous-owned companies by providing enabling policies to accelerate participation and growth.
“The last we held our symposium was in 2014 after which the directors decided that we would next meet after a new government was in place,” Mr Taoi said.
“In March 2006, I reported that membership was around 136. In 2014, I reported that FIBC had 35 members. This morning Sir, I have no membership figures to report. The majority have closed businesses, restructured for one reason or another. Some for reasons of lack of capital, inadequate skills, lack of management acumen, a saturated market to compete in and lack of private sector confidence.
“Others continue to excel and expand. However, we believe that indigenous businesses still constitute less than 5 per cent of the 14,600 mainstream businesses operating in Fiji and look forward to the next 10 year space to make greater impact and meaningful contribution to our people and nation.”
Mr Taoi called on Government to support the medium to small indigenous-owned companies by providing enabling policies to accelerate participation and growth.
“One immediate and direct government intervention is by mandating government Ministries and Departments to procure goods and services from existing indigenous businesses.
“These businesses have proven records of business acumen, thrift, control and marketing over the last 10-20 years. This targeted approach achieves accelerated growth and value adding to smaller indigenous businesses.”
Mr Taoi pointed out the New Zealand Government’s Progressive Procurement Policy targeted at growing Maori business and economic participation as a model to consider.
The business council gathered again after a decade of inactivity due to policies of the previous government which it saw as hostile to indigenous business participation. || 5% business participation || 5% business participation
