Twenty-one graduates from various tertiary institutions are set to receive grants of $5,000 each, awarded under the Graduate Business Start-Up Grant Scheme (GBSUS). This initiative aims to support and kickstart their entrepreneurial ambitions after these individuals completed a six-month program encompassing training, advisory services, mentoring, and business attachments.
The participants, predominantly women (70%), come from Fiji’s central, western, and northern divisions. Established through a partnership between the Tertiary Scholarships & Loans Service (TSLS) and the Fiji Commerce & Employers Federation (FCEF), the scheme emphasizes fostering entrepreneurial skills within the education sector.
Edward Bernard, the CEO of FCEF, highlighted the importance of this incubator program, marking it as Fiji’s first private sector-led initiative supported by the government. He expressed optimism that collaboration between graduates and the private sector would enhance their chances of successfully launching sustainable businesses. The GBSUS aligns with the government’s National Development Plan for 2025-29, which aims to boost the annual economic growth rate and reduce unemployment.
The graduates underwent extensive training to develop robust business plans and are now prepared to launch ventures ranging from organic fertilizers and agricultural products to automotive training hubs and health initiatives. FCEF’s previous experiences in managing accelerator programs, such as the Fiji Enterprise Engine, will contribute significantly to these graduates’ journey as budding entrepreneurs.
Palinda Kaitu’u from FEE emphasized ongoing support, stating that mentorship would remain available as the new business owners apply their knowledge in real-world scenarios. In addition, they will revisit training to refine their business plans based on practical experiences gained after launching their enterprises.
This initiative is poised to create a positive impact on Fiji’s economic landscape, promoting job creation and contributing to the micro, small, and medium enterprises (MSME) sector, which accounts for a significant portion of the national GDP and employment. By equipping recent graduates with the necessary tools and support, this program not only paves the way for personal success but also fosters a culture of innovation and self-employment.
The continued emphasis on strengthening the entrepreneurial education framework in Fiji will further solidify these efforts, ensuring younger generations are equipped with fundamental entrepreneurial skills from an early age. The GBSUS represents a proactive step towards nurturing a thriving entrepreneurial ecosystem, inspiring hope for a economically resilient and diverse future in Fiji.
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