MSMEs responsible in enhancing policies – Mua
21 November, 2022, 6:15 pm
The micro, small and medium enterprises (MSMEs) are responsible in formulating, implementing and enhancing policies and strategies for the development of MSMEs.
The Ministry of Commerce, Trade and Tourism and Transport (MCTTT) MSME divisional manager West Rusieli Mua made this comment during the Business Assistance Fiji (BAF) organised Awareness and Networking workshop held in Lautoka on Thursday.
“Micro businesses are those enterprises that has an annual turnover of $50,000, small businesses are those enterprises that has an annual turnover of $300,000 and medium businesses are those enterprises which has a annual turnover of $1.25 million,” she said.
Ms Mua added that apart from facilitating business training, they also do mentoring and business advisory.
“In MSME, we have five livelihood programs – Young Entrepreneurship Scheme (YES), National Export Strategy, Northern Development Programme, Integrated Human Resource Development Programme and Trade Enhancement Program.”
She said the YES program was established to stimulate young people to become job leaders rather than job seekers.
“The YES grant stands up to $30,000 and is given to those budding young Fijians who have innovative bankable ideas where they could transform their ideas into income-generating activities that would support their livelihoods.
“The national export strategy is targeted at people who are on the verge of exporting or are already in the export business. It is there to help MSMEs secure meaningful export-related projects that would achieve sustainable economic growth.”
Ms Mua said the Northern Development Programme provided assistance through grants to enterprises in order to improve livelihoods in the Northern Division.
“This is a program that could help our friends in the Northern Division tap into opportunities in order to increase employment opportunities and reduce poverty levels.”