Fiji’s economic resilience is closely linked to the success of small and medium enterprises (SMEs), with the government’s necessary focus on removing barriers to their growth. This message was reinforced by Deputy Prime Minister Manoa Kamikamica during the launch of the 2024 National SME Awards.
Kamikamica emphasized that eliminating challenges such as limited access to funding and necessary resources is crucial for the development of SMEs. He stated, “We believe when MSME enterprises thrive, our communities prosper and our nation grows stronger together.” In alignment with this commitment, the government has recently ensured a guarantee for $190 million worth of loans from the Fiji Development Bank (FDB) aimed at empowering SMEs.
The Deputy Prime Minister also pointed out the importance of adopting digital solutions to help businesses stay competitive in an ever-evolving marketplace. This complements insights shared previously by Damend Gounder, chairman of the FDB, who noted that the critical role of SMEs is essential for the nation’s prosperity. At the 2023 National SME Awards, Gounder highlighted that ongoing support from the FDB, which allocated $40 million to the SME sector last year, reflects the bank’s dedication to the country’s growth.
Such initiatives foster a supportive environment for SMEs, encouraging inclusivity and sustainable practices while ensuring that the entrepreneurial spirit continues to thrive. The collaborative effort between the government and financial institutions points to a positive outlook for the future of entrepreneurship in Fiji, ultimately contributing to a stronger and more resilient economy.
The 2024 National SME Awards stand as a vital platform to recognize and celebrate the achievements of SMEs, inspiring continued growth and innovation within this essential sector.
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