Twenty-one recent graduates from universities in Fiji have received a financial boost of $5,000 each as part of the Graduate Business Start-Up Grant Scheme. This initiative, revealed in the 2024–2025 National Budget by the Coalition Government, aims to help graduates transform their innovative business ideas into successful entrepreneurial ventures.
The scheme is managed by the Tertiary Scholarships and Loans Service (TSLS) in collaboration with the Fiji Commerce and Employers Federation (FCEF). Deputy Prime Minister and Minister for Finance, Hon. Professor Biman Prasad, attended the grant handover ceremony on May 26, 2025, in Suva, where he praised the recipients, noting that 70 percent of them are women. He emphasized their potential to significantly contribute to Fiji’s economy and underscored the government’s commitment to nurturing a resilient and inclusive economic environment.
“Our goal is to build a resilient and inclusive economy,” he stated, highlighting that this initiative not only provides capital but also offers technical support critical for business success.
This grant forms part of a broader strategy under the National Development Plan (2025–2029), aiming for an annual economic growth rate of 4–5 percent, boosting contributions from micro, small, and medium enterprises (MSMEs) to GDP, and reducing unemployment rates.
Hon. Prasad also discussed future funding increases for the scheme, urging banks and donor partners to develop tailored support for SMEs. He advocated for the establishment of specialized SME units within banks, equipped with independent advisors to evaluate financing applications from startups.
The significance of this initiative is underscored by its aim to empower young entrepreneurs, promoting an entrepreneurial culture that encourages self-employment and innovation. With ongoing governmental and private sector support, this program could provide a pathway to a prosperous future for both the graduates involved and the Fijian economy as a whole.
By fostering a proactive entrepreneurial environment, this initiative embodies hope and optimism for sustainable economic development in Fiji, providing a strong foundation for future generations of business leaders.
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