SUNBIZ

Keep Credit At Minimum: Island Business

Mesake Gaunavou of Yacata Island in Cakaudrove says the best way to keep a business afloat is to keep credit at a minimum. And as an iTaukei, Mr Gaunavou said
14 Jan 2017 11:00
Keep Credit At Minimum: Island Business
Shopkeeper Mesake Gaunavou in his shop on Yacata Island. Photo: Josaia Ralago

Mesake Gaunavou of Yacata Island in Cakaudrove says the best way to keep a business afloat is to keep credit at a minimum.

And as an iTaukei, Mr Gaunavou said it was sometimes hard but for him this a golden rule in order to keep his business flourishing.

The 62-year-old runs a store on the island and has been in operation for the past five months.

“I do hand out credit because we all have rainy days but I keep it at a minimum. There is a time when they have to pay, I usually give them one to two weeks,” Mr Gaunavou said.

“I take into account how reliable they are when I issue credit and this is very important.”

“I started this business in September last year and so far, it has been running well because I keep a close tab on the credits handed out.”

He added that on top of this good service and affordable prices went along way for business and that is why his shop was open 24/7.

The 62-year-old said before they had canteens on the island, they would face a lot of difficulties in acquiring basic food items like sugar, flour and rice.

“We would have to travel as far as Savusavu and to Suva to purchase goods, but with the introduction of canteens and stores like mine, it has helped us a lot,” he said.

“But because we are all related, purchasing goods on credit was a norm which led to bankruptcy for some businesses over the year.”

Mr Gaunavou plans to continue expanding his business to include more luxury goods.

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