CHAIRMAN of the Fiji Indigenous Business Council (FIBC) Ulai Taoi has again urged iTaukei-owned businesses to do more networking as a way to exchange ideas, learn from each other and help each other out. Speaking to this newspaper at this week’s FIBC symposium in Lami, Mr Taoi said he was encouraged by the increasing interest from the indigenous community to go into business, evident in the rising number of itaukei-owned companies that have registered with them.
This year’s symposium was the second held after a lapse of a decade.
Mr Taoi said the main topic of discussion was around the importance of networking in business after it was noted that apart from the general weaknesses associated with itaukei doing business, most of them tended to operate in isolation.
“The disadvantage is when we need help, we don’t know where to go or who can help us,” Mr Taoi said.
“Or when we want to move forward and grow, we don’t know where to or what to progress to or the reason behind our progress.
“The benefit of working together is it reinforces our numbers – strength in numbers.
“This amplifies our impact when we decide to take an issue to the Government, for example, on a proposal that will suit us iTaukei, it would be easier when we have the numbers.”
At last year’s first FIBC symposium after a 10-year lapse, where delegates were also reminded of the importance of networking, Mr Taoi had shared a glimpse into the declining number of iTaukei-owned businesses.
“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,” he said at that event, in which Prime Minister Sitiveni Rabuka was the chief guest.
“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.”
