Development program for MSMEs

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Development program for MSMEs

WITH access to finance being a key challenge for many MSMEs in Fiji, it is fitting to see a financial institution taking a lead role in development of MSMEs through initiatives which will ultimately build them to access finance for their business.

Deputy Prime Minister and Minister for Trade, Co-operatives and Small and Medium Enterprises, and Communications Manoa Kamikamica made the statement at the launch of the Fiji THRIVE program at the Holiday Inn in Suva yesterday.

Launched by BSP Financial Group Ltd (BSP) in partnership with Australian Business Volunteers (ABV) the Fiji THRIVE is a co-designed business development program for locally-owned, including women-led, businesses in Fiji. Mr Kamikamica said the program addressed one of the major challenges that was faced by new and existing MSMEs – business development.

He said the Fiji Government welcomed the support of industry champions such as BSP and the Australian Business Volunteers (ABV) to guide and coach new and existing MSMEs in their entrepreneurial journey.

“Today’s launch of the Joint 2023 Micro, Small and Medium Enterprises Program between the BSP Financial Group Ltd and the Australian Business Volunteers (ABV) is the genesis of opportunities for our MSMEs,” he said.

Mr Kamikamica said business development training aimed to equip MSMEs with the necessary skills and impart business practices for sustainable operations. He said from the first group of MSMEs to benefit from this program 75 per cent were women entrepreneurs representing a wide array of sectors, ranging from small retail convenience shops, beauty and fashion, medical services, online shops, vehicle repair and tourism.

He said there were investments from the private sector that the Government sought to foster in Fiji. “I am sure these MSMEs will also look to network with each other and share ideas on how to overcome common challenges.

“I therefore, wish to convey my sincere appreciation to the ABV for coming onboard with skilled business professionals to guide through professional financial advice, training, coaching and mentoring to help the MSMEs achieve their business goals.

“We hope that you are able to continue this partnership beyond this cohort, as there is great demand for this type of service outside of Suva, Lautoka and Nadi.”

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