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MSMEs to Grow with Business Assistance Fiji

Micro, Small and Medium Enterprise now have a platform to learn more on the financial aspects of their small businesses and take them from being informal to become part of the formal sector. This is after four organisations joined in the common purpose to assist the Government in assessing the Concessional Loans and established Business Assistance in Fiji.
23 Mar 2022 12:00
MSMEs to Grow with Business Assistance Fiji
Second from left: Director of Fiji Chamber of Commerce and Industry Umesh Prasad, Business Assistance Fiji board of directors Sunil Sharma (third from left), Pravinesh Singh (fifth from left), chairperson Nur Bano Ali (seventh from left), Vinay Narsey (second from right), general manager Ramesh Chand(right) during the official launch of Business Assistance Fiji at PKF Boardroom in Suva on March 22,2022. Photo: Laisa Lui

Micro, Small and Medium Enterprise now have a  platform to learn more on  the financial aspects of their small  businesses and take them from being  informal to become part of the  formal sector.

This is after four organisations joined in the common purpose to assist the Government in assessing the Concessional Loans and established
Business Assistance in Fiji.

This falls under the 2020 budget reform to assist local.

 

The four organizations are: Fiji Institute of Accountant (FIA), Fiji Chamber of Commerce and Industry (FCCI), Fiji Commerce and Employers Federation (FCEF), Women in Business (WIB).

BAF chairperson Nur Bano Ali said the initiative was mobilised through the Ministry of Commerce, Trade and Tourism (MCTTT), upon successfully completing the assessment exercise and on the completion of the disbursement of the loans to 7000 applicants who were both individuals and companies.

 

Ms Ali said the Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum had further announced that BAF be formalised and registered as an organisation who will continue to assist MSMEs in Fiji in partnership with government and other agencies who desired to promote and assist SMEs as significant contributors to our economy.

 

“We are already working with Fiji Development Bank in its MSME  objectives and will continue to strengthen this partnership,” Ms
Ali said.

“Minister for Economy had also  announced an allocation of $250,000 for the establishment of Business Assistance Fiji in the 2021 National
Budget,” she said.

Meanwhile, organisation General Manager Ramesh Chand stressed that while BAF was not handling out grants, it will help businesses
to access it.

 

The Organisation Aims To:
–  Collect and communicate statistical information on MSMEs

– Actively contribute in the policymaking for MSME development in Fiji

– Assist MSME’s in capitalizing on export pathways

– Provide advisory services, training and funding options

– Promote the development of start-up businesses and encourage women, youth and other differently abled groups to participate in business
activities

– Actively participate in MSME related programmes

 

Collaborate with local and foreign agencies and NGO to provide a platform for MSME’s to network and communicate ideas for the improvement of the different sectors.

 

Board Members and Executives
Business Assistance Fiji is  chaired by the President WIB, Ms. Nur Bano Ali and is led by a Board consisting of four directors and will recruit staff as it progresses in  its work and find office space.

– FCEF President Vinay Narsey,

– Secretary FCCI Sunil Sharma

– President of FIA Pravinesh Singh

– Secretary Faizal Khan, Director MCTTT.

– General Manager Ramesh Chand and the organization

 

At present, it is operating out of the PKF office at BSP Life Centre building in Scott Street, Suva.

 

Feedback: laisa.kabulevu@fijisun.com.fj



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