Micro, Small, and Medium Enterprises (MSMEs) face several significant challenges, including difficulties in accessing affordable and timely financing, technology adoption struggles due to insufficient capacity, and obstacles in reaching markets for vulnerable and marginalized groups. These issues, along with complicated regulatory procedures, were highlighted in the National Development Plan 2025-2029 and Vision 2050, which were recently launched in Suva.
The report identified a lack of dedicated infrastructure and facilities for MSMEs within local municipalities and poor digital infrastructure as major hurdles. It also pointed out that the absence of cohesion within the MSME ecosystem hinders collaboration and growth. A disconnect currently exists between policies, support mechanisms, investments, and market development initiatives aimed at start-ups and MSMEs, ultimately affecting entrepreneurial efforts.
Despite these challenges, the document notes the presence of numerous informal businesses that remain unregistered, presenting both a challenge and an opportunity to formalize these entities through streamlined registration processes.
Additionally, the report emphasizes the potential to harness natural resources to support the development of MSMEs. Diversifying domestic businesses is viewed as a significant opportunity that could be facilitated by establishing cooperatives. This strategy holds considerable potential for MSME growth, especially in rural and maritime regions. By sustainably managing natural resources, MSMEs can promote sustainability and create job opportunities in rural areas.
The government has prioritized the MSME sector within its four-year development agenda and the long-term vision for Fiji.