University of the South Pacific’s Graduate School of Business recently held a one-day workshop aimed at enhancing the financial literacy and business acumen of women entrepreneurs in Fiji. Dr. Avanish Shukla, a lecturer at the institution, highlighted the importance of financial awareness and effective money management for the 20 women in attendance during the “Empowering Women Entrepreneurs: Policy, Profit and Digital Power” workshop.
Dr. Shukla observed that many financially disadvantaged women entrepreneurs often struggle with understanding relevant policies and fail to track their financial movements accurately, including both income and expenses. The workshop, held at the MBA Conference Room at USP’s Statham Campus, focused on providing these entrepreneurs with knowledge about accounting practices, such as using cashbooks, and marketing strategies to effectively promote their goods and services.
He emphasized that while accounting can appear daunting with complex processes, he believes that simplified cognitive learning methods, such as straightforward discussions about cash management, could empower small business owners to maintain effective financial records. Dr. Shukla underscored the necessity of distinguishing between personal and business finances, stating that using separate cash management systems is critical for avoiding financial mishaps.
Furthermore, Dr. Shukla pointed out that while the government offers valuable initiatives to aid small-scale entrepreneurs, there is often a lack of awareness about how to access these resources. This training session was a collaborative effort between Business Assistance Fiji (BAF) and USP’s Graduate School of Business, attracting market vendors, startup owners, and aspiring entrepreneurs who are eager to learn and grow.
Nitika Singh, acting general manager of BAF, emphasized the organization’s commitment to empowering women entrepreneurs, asserting that their success not only enhances individual businesses but also strengthens families and the wider community, ultimately contributing positively to Fiji’s economic landscape.
This workshop aligns with other recent initiatives focused on improving financial literacy among women in Fiji, including a training session organized by BAF aimed at fostering sustainable business practices and essential financial skills. Such programs reflect a broader commitment across various organizations to enhance the economic independence of women and elevate their entrepreneurial potential.
Through collaborative efforts aimed at empowering women and improving financial capabilities, there is a collective hope for a more resilient and robust business environment in Fiji, paving the way for positive economic transformation in communities throughout the nation.
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