Vinod Patel Backs FDB Initiative on Business

Micro and small enterprises (MSEs) have been recognised as a major source of employment and income in many countries and Fiji is no different in the South Pacific region. In
08 Jan 2018 10:36
Vinod Patel Backs FDB  Initiative on Business
Sitting from left : Board chairman Bob Lyon and Fiji Development Bank Chief Executive Officer Mark Clough with the 2017 National Small and Medium Enterprise Awards Sponsors. Photo: Maraia Vula

Micro and small enterprises (MSEs) have been recognised as a major source of employment and income in many countries and Fiji is no different in the South Pacific region.

In fact, the Small, Micro and Medium Enterprises (SMMEs) sector is touted as an economic engine for many countries.

Vinod Patel Company Limited [VPCL] proudly supports the Agriculture Award for the FDB’s 2017 National Small and Medium Enterprise Awards, scheduled on February 1.

Entries have closed for the 2017 Fiji Development Bank’s National Small and Medium Enterprise Awards last Friday.

SME support

The Development Ambassador, VPCL, has sponsored prize money worth $5000 for the award winner in the developing SMEs Category for the Agriculture Award.

Vinod Patel and Company Ltd has been investing millions of dollars into the Fijian economy since its inception over 50 years ago in 1962.

It has supported SME development in the country and has been one of their core focus areas.

As a local company VPCL has been contributing towards the growth of the economy by providing quality hardware products, reliable service and customised home and building solutions to Fijian families across the country.

A company spokesperson said: “While we are dedicated to delivering the highest quality product at competitive and affordable prices and offer a “Complete Home & Building Solution” for the people of Fiji, we are also committed to our corporate social responsibility towards our clients, their families and their communities.

“VPCL is genuinely concerned to see the growth of the economy to ensure Fijians have comfortable living standards, adequate employment, communities are financially stable and literate and the environment is sustainably managed.”

Employment opportunities

The sector is certainly crucial and by default plays a significant role especially for the people dwelling in rural provinces, especially the Western division of Fiji where most of the people are dependent on agriculture and farming.

“We at Vinod Patel believe supporting the development of small and medium enterprises in the country is one way to foster a roadmap for a stable and responsive economy.”

Employment opportunities in MSEs directly increases as a result of new enterprises/corporation starting up businesses and/or through an expansion of an existing business, and here is where a responsible concern such as Vinod Patel steps in.

On sponsoring the award, the spokesperson says: “We support the Fiji Development Bank’s Small and Medium Enterprise Awards [SMEA] that encourages the growth of Small and Medium Enterprises by providing them a platform of competitive recognition.

“VPCL has been an award sponsor for the SMEA for a number of years now because the awards encourage innovative entrepreneurship and promote development of the SME industry in Fiji.”

Vinod Patel foucses on global goals

VPCL also strategically focuses on progressing global goals that promote sustainable development.

The award aligns the company’s corporate strategy to contribute in progressing global goals such as the sustainable development locally, and the Climate Change Framework as reflected in FDB’s strategic plan.

“Through our business we support these SMEs which are a significant portion of our own customers.

“Hence, when it came to supporting a platform that further motivates them to improve on business operations, we wanted to be part of that journey as well,” the spokesperson from VPCL said.

About Vinod Patel:

VPCL is spread across all major town and cities in Fiji, employs 1100 plus staff, 13 stores, independent warehouses and has an enviable product range of more than 30,000 items in hardware, building material, tools, plumbing and sanitary ware, tiles, paints, electrical, homeware and giftware, white goods, furniture and furnishing and industrial equipment and more.


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