Business Link Pacific has commenced a new Co-Investment Fund aimed at bolstering Micro, Small, and Medium-Sized Enterprises (MSMEs) in Fiji. This initiative, supported by the Government of New Zealand with FJ$500,000, targets MSME projects that enhance business performance, generate employment, and encourage social and environmental sustainability.
The fund offers matched financing between FJ$20,000 and FJ$40,000 specifically for businesses employing up to 50 individuals. Applications are particularly encouraged from women, youth, and underserved communities, reflecting a commitment to inclusivity and diversity within the MSME sector.
At the launch event, which coincides with the Business Assistance Fiji conference, Permanent Secretary for Trade, Co-operatives, MSMEs, and Communications, Shaheen Ali, highlighted that this year’s conference theme, *“Sustainable Tides: Connecting MSMEs for a Circular Economy,”* underscores the government’s dedication to enabling MSMEs to operate more sustainably and efficiently.
Ali also spoke about several strategic reforms currently in progress, including the establishment of a national MSME database, reduction of regulatory hurdles, modernization of cooperatives, and improvement of access to finance and markets.
The significance of the fund was echoed by New Zealand’s Deputy High Commissioner, Alex Sharyar-Davies, who described it as a catalyst for fostering innovation, business growth, social inclusion, and enhanced resilience to climate change.
This initiative builds on previous efforts, such as the government’s Access to Business Funding Act, which was designed to improve financing options for MSMEs by enabling alternative funding methods like crowdfunding and peer-to-peer lending. According to recent data, MSMEs constitute about 98.7% of registered businesses in Fiji, contributing more than 64% of the national employment.
As Fiji heads toward the MSME Conference scheduled for June 26 in Nadi, these initiatives signal a promising path forward for local entrepreneurship, pointing toward a resilient and inclusive economic future for the nation.
The introduction of such funds is very encouraging, especially for small businesses, fostering job creation and societal betterment while promoting sustainability within the community. The active engagement of the government in enhancing business support infrastructure bodes well for the future economic landscape of Fiji.
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