Only $6m approved from $46m MSME grant requests

Only $6 million out of $46.2 million in requested grants was approved for small businesses last financial year.

This was revealed by Deputy Prime Minister and Minister for Industries, Commerce, Business Development, and Public Enterprises Manoa Kamikamica in Parliament yesterday.

Mr Kamikamica said the Ministry received 6,305 applications, but only $4.9 million was allocated to grant programmes.

“This clearly demonstrates two things. First, there is a very strong demand for Government assistance amongst our Micro, Small, and Medium Enterprises (MSMEs),” Mr Kamikamica said.

He said 1,806 applications valued at close to $6 million were approved after assessment and due diligence.

Mr Kamikamica said the gap showed that MSMEs needed to stop relying only on government grants.

“There is even a greater need for us to develop alternative and sustainable financing mechanisms so that MSMEs do not become dependent on government grants as their only source of capital,” he said.

He said $147 million was set aside for MSME and related initiatives in the 2026-2027 National Budget, and Government wants MSMEs, which make up 18 per cent of GDP, to reach 40 per cent.

A peer-to-peer lending platform is expected to launch in December.

Opposition response

Opposition MP Rinesh Sharma welcomed the funding push but said business owners were more worried about rising rents, break-ins and unresolved land lease uncertainty.

“A business owner who has been robbed twice this year doesn't need a seminar. They need to feel safe enough to keep their shutters open,” Mr Sharma said.

He also raised concern over 1,295 Fijians who left the country for employment in July alone.

“You cannot build a resilient workforce when experienced hands are boarding flights,” Mr Sharma said.

He called for tax relief and a review of the VAT burden on small traders to match the Ministry’s training push.