Chairman of the Fiji Indigenous Business Council (FIBC), Ulai Taoi, has reiterated the call for iTaukei-owned businesses to enhance networking as a means to share ideas, learn from one another, and provide mutual support. Addressing attendees at the recent FIBC symposium in Lami, he expressed optimism over the growing interest from the indigenous community in pursuing business ventures, as evidenced by an increase in iTaukei-owned companies registering with the council.
This symposium marked the second gathering after a decade-long break, emphasizing the critical role networking plays in business. Taoi pointed out that many iTaukei entrepreneurs often work in isolation, which can lead to difficulties in seeking help or progressing in their ventures. “Working together amplifies our impact,” he said, highlighting how greater collaboration can strengthen their collective voice when addressing governmental issues relevant to the iTaukei community.
At last year’s inaugural symposium, Taoi had highlighted the worrying trend of declining iTaukei-owned businesses. He noted that the membership had dropped significantly since they last met in 2014, where only 35 businesses were reported active, compared to 136 in 2006. A range of challenges have contributed to this decline, including lack of capital, inadequate skills, and market saturation.
However, recent initiatives and discussions have pointed to a hopeful future. The new focus on creating a supportive environment for iTaukei entrepreneurs, including plans for training programs in business management and financial skills, reflect a commitment to revitalizing the indigenous business landscape.
Notably, past discussions led by government officials like Minister for iTaukei Affairs, Ifereimi Vasu, have echoed the importance of unity and collaboration as pathways to greater business participation among iTaukei individuals, who currently own less than five percent of the 14,600 businesses in Fiji. There is a shared vision among leaders to enhance economic empowerment within the community, emphasizing that with collective efforts, the potential for growth and innovation remains promising.
Comment: The ongoing discussions and initiatives reflect a growing recognition of the need to improve the business climate for the iTaukei community. By focusing on collaboration, education, and resource-sharing, there appears to be a genuine opportunity for revitalization within this sector, paving the way for future entrepreneurial success and a stronger economy in Fiji.
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