News

New program to provide financial relief to MSMEs

October 5, 2024 11:34 am

Thirty women entrepreneurs funded by the South Pacific Business Development showcased their products and services at the Courts Sisters in Business Market Day yesterday.

Ministry of Trade’s Director of Cooperatives, Iosefo Koroicimuri, says access to finance remains a challenge for many small businesses, and as such, the ministry will be launching a Cooperative Development funding program.

He adds it is vital to advocate for more policies that provide financial literacy to women, as this not only enhances their personal and professional lives but also fosters broader economic and social benefits.

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Koroicimuri adds the program will provide approximately $100,000 in financial relief to cooperatives, regardless of their business size.

“Running a business can often feel lonely at times. But I urge you, never give up. Your tenacity and determination will lead you to success. I know that when we talk about small business, we often focus on its challenges at the lowest level.”

Founder and President of the South Pacific Business Development, Greg Casagrande, says that the organization is committed to providing economic opportunities to micro women entrepreneurs.

“Here in Fiji, we will provide over 20 million Fijian dollars in loans to micro-entrepreneurs, totaling over 9,000 micro-loans.”

SPBD believes that successful women entrepreneurs serve as role models, inspiring the next generation of female leaders and encouraging young girls to pursue their ambitions.