Business

SMEs can apply for new $400k Pilot Grant Fund

December 3, 2024 4:21 pm

[Source: Parliament of the Republic of Fiji/ Facebook]

Small, micro, and medium enterprises in the tourism sector will be able to apply for a portion of the $400,000 Pilot Tourism MSME Grant Fund starting tomorrow.

Minister for Tourism Viliame Gavoka highlighted that SMEs are the backbone of many local economies, but they often struggle to access the resources and funding required for growth.

In response to this challenge, Gavoka says his Ministry has been allocated $400,000 in the 2024-25 financial year to launch the pilot project.

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Gavoka says this is the first of its kind initiative for the tourism sector, designed to empower SMEs to invest and grow.

“From family-run guest houses and ecologists, to local operators and handcrafted producers, MSMEs embody the essence of Fijian hospitality and culture. Through the grants, we are creating a platform for these enterprises to rebuild, innovate, and contribute to the larger vision of sustainable economic growth.”

Gavoka stresses that with new markets coming to Fiji, it is important to be able to cater for the different needs of the guests.

The program is being overseen by a public-private panel.

Gavoka states that, in addition to government agencies, the Ministry has partnered with the Fiji Hotel and Tourism Association, Fiji Development Bank, and Business Assistance Fiji.

To be eligible, applicants must be Fijian citizens aged 18 or older, have a registered business that has been in operation for at least two years, be majority Fijian-owned (at least 51 percent), engage in tourism, with the majority of revenue derived from the tourism sector, and have the ability to cover one-third of the project cost.