24 Micro Businesses have graduated to Small Business with 3 Micro Businesses graduated to Medium Enterprise in Savusavu.
This is part of the Micro and Small Business Grant that have assisted more than 4 thousand people in Savusavu.
Minister for Industry and Trade, Faiyaz Koya while handing over their cheques to the recipients says that the MSBG Program relies on the Fijian people to work hard and be innovative and strive for greatness.
“Please remember that this is NOT a HANDOUT! I t is a Grant that can only be used to purchase materials that you have identified as important to expand your businesses and collectively as your businesses grow you will build wealth for yourselves and you’ll contribute to our economy. I’d also like to take this opportunity to thank all of you for having the courage to take your risks to begin a business or further your business with a vision to not only secure your livelihood but also to expand your commercial ventures and join a well recognised business sector that is producing Fijian made and Fijian grown products.”
He adds that last year they actually dispersed Grants to 1 thousand 766 recipients and a few days ago distributed grants to more than 2 thousand people.
“In October last year the Ministry assessed and monitored 768 Micro and Small Businesses that were funded through this program between 2015 and 2017. The assessment confirmed that 479 businesses were operating successfully, which means that 62.4 percent of businesses assessed in Savusavu are operating successfully out of which 311 businesses were agriculture based while 121 was in the retailing sector. These MSBG recipients contributed 5 point 7 million dollars towards the Fijian Economy and created approximately 200 jobs here in Savusavu.”