The Fijian Government is taking significant steps to support start-ups in the micro, small, and medium-sized enterprises (MSME) sector, highlighted by the recent release of the “Landscape Assessment of Accelerators & Incubators in Fiji.” This study, conducted by the Reserve Bank of Fiji in collaboration with the Australian Government’s Market Development Facility, examines the current environment for entrepreneurship and identifies both opportunities and challenges for emerging businesses in Fiji.
Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, emphasized the importance of this study in empowering Fiji’s MSMEs, which comprise 82% of registered businesses in the country and play a critical role in driving economic growth. He noted that entrepreneurship often develops later in life in Fiji, with applicants to the government’s Young Entrepreneurship Scheme reaching up to 74 years of age, underscoring the necessity for enhanced guidance and support for aspiring entrepreneurs of all ages.
Kamikamica also pointed out the global significance of MSMEs, as they account for 96% of all enterprises and employ 56% of the workforce. He affirmed the Government’s commitment to promote incubation services, citing the establishment of an agribusiness incubation center in partnership with the Food and Agriculture Organisation of the United Nations. The insights gained from the recent assessment will pave the way for the development of a National Incubation Centre, aimed at providing comprehensive support for entrepreneurs across the nation.
In summary, as Fiji invests in the future of its MSME sector, the initiatives in place promise to foster a more vibrant entrepreneurial landscape, encouraging growth and innovation. With government support and a focused vision, there is optimism that more individuals will feel empowered to pursue their entrepreneurial dreams, ultimately benefiting the economy as a whole.
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