Bank revamps awards

THE Fiji Development Bank (FDB) has revamped its awards for small businesses this year by including medium enterprises.

The FDB Small and Medium Enterprises (SMEs) Awards was launched at the Grand Pacific Hotel yesterday with an aim to boost the status of small businesses.

With the theme — SMEs: The Driver of Our Future Growth — the annual award was created in recognition of small and medium enterprises.

FDB acting CEO Nafitalai Cakacaka said SMEs was an important sector and engine of growth in the economy.

The bank defines SME as an enterprise with a turnover between $30,000 and $50,000 annually and employes between five and 50 people.

Launching the awards, Pacific Islands Private Sector Organisation CEO Mereia Volavola said the event recognised the economic contribution of SMEs.

With growing emphasis and focus on SMEs, she said the FDB decided to upgrade its award to include medium enterprises.

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