How Small Businesses Surpassed the Export Crisis

How Small Businesses in Fiji Surpassed the Export Crisis
The Trade Forum spoke to the CEO of Fiji Investment Fiji's Trade and Investment Promotion Agency to find out how small businesses in this small Pacific island nation survived the export crisis and what your plan is. to make sure it stays that way.

What's the big picture of business support in Fiji when it comes to providing export promotion services to small businesses?
The Fijian government has made important tax and policy changes to stimulate the economy and restore confidence. It is becoming the preferred destination for manufacturers with new incentives to capitalize on the international urge to relocate manufacturing and assembly lines to Fiji.

A number of reforms will improve the business environment, particularly for micro, small and medium-sized enterprises (MIPYMES), such as the completion of the Mipymes Act, the Investment Law Project and the amendments to the Cooperatives Act.

Another initiative to support business growth is the elimination of business licenses for aspiring Fijians because the procedures were cumbersome. The “Love our Locals” initiative enables micro-entrepreneurs to use their specialized skills in order to start their own business. Young Entrepreneurship Scheme supports young entrepreneurs with innovative ideas with up to 30,000 US dollars.

The national export strategy, on the other hand, helps new and existing exporters with competitiveness, added value, diversification of exports and growth in certain foreign markets.

The Fiji Trade and Employers Federation, supported by the Australian Government-funded Market Development Mechanism, is Fiji's first private sector business acceleration program for individual mentoring and networking activities.

The "Love our Locals" initiative enables micro-entrepreneurs to reuse specialized skills. The market development mechanism focuses on improving the competitiveness of Fiji's high quality urban and agricultural industries.

In addition, the newly established Business Processing Outsourcing Council, Target Marketing Organizations and the Fiji Business Engines Accelerator Program of the Fiji Trade and Employers Federation for Women and Young Entrepreneurs are initiatives that promote growth. to make their businesses and products exportable. for the world market.

How did Investment Fiji help small businesses stay resilient during the COVID19 crisis?
When COVID19 surfaced last year, we knew we needed to restructure and do more to build resilience among local exporters. help small start-ups prepare for export.

Collaborate with local and international players for webinars and virtual trade shows to build capacity to further promote Fiji's products in the global market. Sessions on liaison with markets, links to key authorities on permits and hurdles, site visits and follow-up support.

When COVID19 surfaced last year, we knew we needed to restructure ourselves and put more effort into making local exporters resilient.

The status of small businesses in a post-pandemic world?
From our perspective, small businesses are now t Our pillars of recovery are export growth, domestic direct investment and foreign direct investment, and we are building the economic base of our key industries in agriculture, fishing, forestry, tourism, digital, shipping, manufacturing and infrastructure Investments.