The Ministry of Trade, Co-operatives, Small and Medium Enterprises, and Communications has given the green light to 1,016 applications for assistance from micro, small, and medium enterprises (MSMEs), amounting to $4 million this financial year.
A total of 1,520 applications were submitted, requesting nearly $6.4 million in MSME assistance.
Deputy Prime Minister and Trade Minister Manoa Kamikamica disclosed these statistics during the 2024-2025 National Budget debate in parliament on Monday, underscoring the ministry’s unwavering support for small and medium business enterprises.
“These funds supported diverse sectors, including eco-tourism, manufacturing, forestry, ICT, and crucial service sectors,” stated Mr. Kamikamica.
He noted that Fiji has more than 50,000 registered businesses, with 72 per cent classified as small and medium enterprises.
“The ministry will continue to promote growth and economic diversification, using the $3.6 million budget increase to support SMEs across all sectors,” he added.
In parallel, co-operatives have played a critical role in fostering sustainable development and economic empowerment.
“The Department of Cooperatives’ efforts led to an 84 per cent increase in registrations this year, with a $400,000 capital grant to boost co-operatives, helping them transition from small to medium scale,” he said.