Driving impact through grants and access to finance

The impact of grants, subsi­dies and concessional loans are improving micro, small and medium enterprises (MSMEs) access to finance and job creation. Minister for Finance Esrom Im­manuel said there was a growing need to improve access to finance, strengthen advisory services and support entrepreneurs across ag­riculture, tourism, manufacturing, services and the creative industries.

He added the Fijian Government would continue to partner with Business Link Pacific (BLP), Busi­ness Assistance Fiji, the New Zea­land Government, financial insti­tutions and other stakeholders.

"It is without a doubt that the strong collaboration and support with Business Link Pacific and Business Assistance Fiji contribut­ed to the first-ever MSME Strategic Plan," Mr Immanuel said.

"It sets out a clear roadmap to build a dynamic, formal and resilient MSME sector. The plan priori­tises improved access to business development services, stronger ac­cess to finance, digitalisation and inclusive growth - exactly the ar­eas in which Business Link Pacific is delivering practical results on the ground."

Mr Immanuel acknowledged the efforts of the Business Link Pacific team, Business Assistance Fiji, advisory providers, financial part­ners, regional colleagues from 12 Pacific nations and resilient MSME owners facing economic and climate challenges.

"To our managers and firms, your dedication, professionalism and support for MSMEs in good times and bad," he said.

Your behind-the-scenes work builds stronger businesses, confi­dent entrepreneurs and better live­lihoods."

Business Assistance Fiji acting general manager Nitika Singh said the organisation had played a cen­tral role in driving strong uptake of Business Link Pacific services by effectively channelling support from both the New Zealand and Fiji Governments to MSMEs.

She added that the subsidies had helped many informal and semi­formal enterprises professionalise, keep better records and position themselves for government sup­port and formal finance.

Business Link Pacific director Steve Knapp said the partnership had enabled MSMEs to access sub­sidies that reduced the cost of pro­fessional advice, as well as grants to implement concrete business improvements.