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Advice For Small Medium Enterprises

Advice For Small Medium Enterprises
Small business owner, Mereseini Tabuakasese at her station at the Suva Market. Photo: Sheldon Chanel
August 18
11:00 2018

I take this time to congratulate the Small Medium Enterprises (SMEs) on the successful setup of their business.

This will help establish their per­sonal income as well as contribute to the Fijian economy.

For an entrepreneur, there are various laws that need to be fol­lowed in order to be successful. One such law relates to competi­tion and consumer protection.

The Fijian Competition and Con­sumer Commission (FCCC) is an independent statutory body estab­lished under Section 7 of the Fijian Competition and Consumer Com­mission Act 2010 (FCCC Act 2010).

Functions

The core functions include pro­moting effective competition and informed markets, encourage fair trading, protect consumers and businesses from restrictive prac­tices, and control prices of regu­lated industries and other markets where competition is lessened or limited.

Our purpose is to achieve the best possible outcomes in competitive and regulated markets for the long-term benefit of all Fijians.

We believe it is important that everyone operate their business under the right conditions and ethical requirements ensuring consumer interests are considered while raking profitable returns for the business.

Conducting business

Under our Act, the SMEs as proud Fijian entrepreneurs need to be mindful of the manner in which they conduct their business to avoid non-compliance which may result in an enforcement action.

It is a known fact that SMEs are critical to reducing extreme pov­erty, eradicating hardship, improv­ing the wellbeing of Fijians and supporting socio-economic devel­opment.

Hence, the reason the Fijian Gov­ernment in continuing efforts to build a strong economy and pro­moting an entrepreneurial culture have always supported the SMEs.

Start-up grants

By assisting Fijians with the start-up grants for their business the overall objective of driving the micro, small and medium sector towards job creation, ensuring all Fijians have a stable source of in­come is being achieved.

With the government playing its part in backing the success­ful operation of SMEs and help­ing generate income, assist rural development, poverty alleviation and empowerment of youths and women.

The SMEs are also required to play their part ethically by doing business the right way.

By embracing the key principles of the National Development Plan (2017- 2021 and 2017 – 2036) into our 5 – year Strategic Plan, FCCC is working towards promoting vol­untary compliance, greater self-regulation and contribute towards a ‘Transforming Fiji’.

Journey of success

Our strategic plan provides an in­clusive approach towards making markets work well.

In doing so, we are collaboratively working with the private sector, civil society, community groups, the government and all Fijians.

FCCC will be here with the SMEs in their journey of success.

We will endeavour to help SMEs understand the legal requirements under the FCCC Act 2010.

Important role

We believe that the Small Medi­um Enterprises play a pivotal role in the Fijian market by creating competition and this fuels more economic growth, innovation and increased GDP.

Moreover, when SMEs operate in a healthy business environment by following the laws and regulations in place, they have the potential to grow, changing the game along with carving a niche for their en­terprise globally.

A trader’s guide

When trading in goods

When offering services for a charge

The information provided above is just the basic guidelines on do­ing business the right way.

It does not contain complete de­tails.

For complete details and informa­tion on the FCCC Act 2010, please contact us on 8921991 or email us on helpdesk@fccc.gov.fj.

The above is a basic guideline on the do’s and don’ts of running a business.

Through it, the FCCC hopes to as­sist SMEs establish themselves.

Feedback: maraia.vula@fijisun.com.fj

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