Supporting small and medium enterprises (SMEs) is increasingly recognized as a national priority in Fiji. During the launch of the 2024 National SME Awards, Fiji Development Bank (FDB) board chairman Damend Gounder emphasized the importance of the SME sector, which reflects the market’s directions and the aspirations of the community. The FDB hosted this annual award ceremony to showcase the significant impact that both emerging and established businesses have on the local economy.
Gounder stated that the National SME Awards serve not only as a recognition of hard work but also as an encouragement for others to strengthen their enterprises, contributing to national development. He highlighted the vital need for sustainable transformation in the SME landscape, advocating for incentivized systems that foster continuous innovation. This aligns with previous statements made by Gounder at similar events, where he reminded attendees of the crucial role SMEs play in economic resilience and social advancement.
Deputy Prime Minister and Minister for Trade and MSMEs, Manoa Kamikamica, also voiced the government’s strong support for micro, small, and medium enterprises (MSMEs). He reiterated the need to eliminate barriers to growth, including limited access to financing and resources, a sentiment that connects back to the substantial financial backing the FDB has provided in the past, including a $190 million loan guarantee aimed at empowering SMEs.
This year’s set of awards includes multiple categories, such as Best Agribusiness SME and Youth Entrepreneur of the Year, aimed at celebrating the diversity and potential within Fiji’s entrepreneurial community. Kamikamica stressed that such recognition not only inspires confidence but also establishes valuable networking opportunities among entrepreneurs.
The 2024 National SME Awards not only represent a celebration of current achievements but also foreshadow a hopeful outlook for the future of entrepreneurship in Fiji. By fostering a culture of creativity, innovation, and continuity, Fiji’s government and financial institutions ensure that SMEs continue to thrive, ultimately enriching the economic and social tapestry of the nation.
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