$4m MSME Assistance Approved: Boosting Small Business Growth

The Ministry of Trade, Co-operatives, Small and Medium Enterprises, and Communications has approved 1,016 applications for assistance to micro, small, and medium enterprises (MSMEs), amounting to $4 million for this financial year.

A total of 1,520 applications, requesting nearly $6.4 million in assistance, were received by the ministry.

Deputy Prime Minister and Trade Minister Manoa Kamikamica shared these figures during the 2024-2025 National Budget debate in Parliament on Monday, emphasizing the ministry’s ongoing support for small and medium business enterprises.

“These funds supported diverse sectors, including eco-tourism, manufacturing, forestry, ICT, and crucial service sectors,” Kamikamica said.

He noted that Fiji has more than 50,000 registered businesses, with 72 percent 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.

Furthermore, co-operatives have played a significant role in fostering sustainable development and economic empowerment.

“The Department of Cooperatives’ efforts led to an 84 percent increase in registrations this year, with a $400,000 capital grant to boost co-operatives, helping them transition from small to medium scale,” Kamikamica said.

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