Fiji has reached a significant milestone with the introduction of the Graduate Business Startup Grant Scheme, which launched last Friday and saw its first 25 graduates under the Tertiary Scholarship Loan Scheme (TSLS) receive grants. This initiative aims to encourage entrepreneurship among graduates, promoting innovation and business growth within the country.
During the launch event held in Suva, Education Minister Aseri Radrodro emphasized the growing trend of graduates pursuing small business ventures. He noted that this program serves as Fiji’s inaugural education sector business incubator, designed not only to offer financial assistance but also to build graduates’ confidence and equip them with essential entrepreneurial skills.
Graduates will engage in a six-month program that focuses on enhancing their decision-making abilities and nurturing independence. “By providing grants, we’re offering the necessary support for graduates to kickstart their businesses,” Mr. Radrodro stated, highlighting the global trend of increased entrepreneurial pursuits among graduates seeking more control over their career paths.
TSLS CEO Hasmukh Lal stressed the crucial role of small and medium enterprises (SMEs) in Fiji’s economic landscape. He pointed out that in 2019, the SME sector contributed approximately $356 million to the nation’s GDP. Lal expressed hope that the newly supported graduates will play a significant role in boosting economic growth by establishing sustainable businesses and generating employment within this essential sector.
This innovative scheme is expected to empower graduates, paving the way for a new generation of entrepreneurs who will contribute to Fiji’s economy and create a positive impact on society.
Overall, the Graduate Business Startup Grant Scheme symbolizes a hopeful leap towards a more entrepreneurial and economically independent future for Fiji’s graduates, aligning with broader global trends that inspire young professionals to take charge of their careers.
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