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Aliz Pacific Launch SME’s Service

Aliz  Pacific Launch SME’s Service
From left:Senior Accountant Moshin Khan(Suva),Minister for Industry, Trade and Tourism,Lands and Mineral Resources Faiyaz Koya,Senior Acountant Kajal Shivani(Suva) and Senior Accountant Koliaci Nasiga(Nadi) on July 05, 2017. Photo: Vilimoni Vaganalau.
July 06
09:53 2017

Our growing Small Medium-sized enterprises (SME’s) can become a serious super power in our economy if nurtured well.

To support this growing sector, Aliz Pacific yesterday launched its SME Division.

They aim to offer a range of SME’s services at an affordable price. This is to encourage small businesses to register, be complaint with the regulations and at the same time grow in the market.

Most of these small businesses operate within the informal sector and are not captured into the economic growth projections.

The Reserve Bank of Fiji noted that the SME sector accounts for around 12 to 13 per cent of economic activity in the country

While launching the new service, Minister for Industry, Trade and Tourism Faiyaz Koya said SME’s are drivers of economic growth, regional development, employment generation and poverty alleviation.

“The Fijian Government strongly believes that through the growth of MSMEs, we will be able to create a robust and resilient economy by having a strong and competitive MSME sector.”

There are at least 20,580 formal MSMEs in Fiji, however, the long term goal will be to graduate more MSMEs into the formal sector, said Mr Koya.

“The Fiji National Provident Fund has estimated that 53,855 people are formally employed in the MSME sector and this accounts for 37 per cent of the formal labour force in Fiji.”

“In the 2017-2018 National Budget there are a number of new initiatives announced that will provide further support to the MSMEs, including young entrepreneurs who have innovative business ideas through the facilitation of grants.”

Aliz Pacific SME’s services includes:

Business registration with the Registra of companies

Registration with Fiji Revenue and Custom Services.

 Registration with Fiji National Provident Fund

Annual accounting and preparation of financial statements

Preparation of tax returns for lodgment to Fiji Revenue and Custom Services

Advice on VAT and FRSC related compliance matters.

 Assisting entrepreneurs in accessing finance with the help of financial institutions like the commercial banks, FDB and through the RBF initiatives.

These services will be free for the first year for all Micro enterprises with annual turnover up to $50,000.

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