The micro, small and medium enterprises (MSMEs) are accountable in formulating, implementing and enhancing insurance policies and methods for the event of MSMEs.
The Ministry of Commerce, Commerce and Tourism and Transport (MCTTT) MSME divisional supervisor West Rusieli Mua made this remark throughout the Enterprise Help Fiji (BAF) organised Consciousness and Networking workshop held in Lautoka on Thursday.
“Micro companies are these enterprises that has an annual turnover of $50,000, small companies are these enterprises that has an annual turnover of $300,000 and medium companies are these enterprises which has a annual turnover of $1.25 million,” she mentioned.
Ms Mua added that aside from facilitating enterprise coaching, additionally they do mentoring and enterprise advisory.
“In MSME, we’ve 5 livelihood applications – Younger Entrepreneurship Scheme (YES), Nationwide Export Technique, Northern Growth Programme, Built-in Human Useful resource Growth Programme and Commerce Enhancement Program.”
She mentioned the YES program was established to stimulate younger folks to turn into job leaders relatively than job seekers.
“The YES grant stands as much as $30,000 and is given to these budding younger Fijians who’ve progressive bankable concepts the place they may remodel their concepts into income-generating actions that will help their livelihoods.
“The nationwide export technique is focused at people who find themselves on the verge of exporting or are already within the export enterprise. It’s there to assist MSMEs safe significant export-related tasks that will obtain sustainable financial progress.”
Ms Mua mentioned the Northern Growth Programme supplied help by grants to enterprises so as to enhance livelihoods within the Northern Division.
“It is a program that might assist our associates within the Northern Division faucet into alternatives so as to enhance employment alternatives and scale back poverty ranges.”