In a resounding success story, 14 small and medium-sized enterprises (MSMEs) from 2023 Fiji Enterprise Engine (FEE) cohort officially graduated.
These entrepreneurs invested six months of unwavering dedication to learn and unlearn critical business concepts, transforming their enterprises from their current state to where they aspire to be.
The FEE program, an instrumental initiative aimed at preparing MSMEs for investment readiness, covers four crucial thematic areas: accounting and finance, strategic management, human resources and industrial relations, and branding and marketing. Notably, this year, the program incorporated new modules on greening your business and digitalising your business.
FEE, a partner-funded program, was launched with support from the International Labour Organization, Australian Government’s Market Development Facility (MDF), iTaukei Trust Fund Board, Reserve Bank of Fiji and the Ministry of Trade, Cooperatives, SME and Communication, and is administered by the Fiji Commerce and Employers Federation (FCEF).
The program’s achievements were recognised in the recent FEE Monitoring Review for 2023 conducted by the Market Development Facility and comprised of interviews with the 2020/2021 and 2022 cohorts.
The report revealed combined sales revenue exceeding $2.1 million over a five-year period from 2019 to 2023.
Eleven of the MSMEs reported an additional revenue of $F662,000 in 2023 alone, directly attributed to the application of FEE’s teachings. Deputy Prime Minister and Minister for Trade, Co-operatives, SMEs, and Communications Manoa Kamikamica presided over the graduation ceremony.
He extended his heartfelt congratulations to the graduates and acknowledged the significance of the first FEE cohort in the Western Division for the year.
Mr Kamikamica encouraged the newly minted entrepreneurs to explore the array of opportunities for grants and funding available within the ministry and other government ministries.
Fiji enterprise engine: Fuelling the growth of MSMEs
The Fiji Commerce and Employers Federation, in partnership with the International Labour Organization, Australian Government-funded Market Development Facility (MDF), Itaukei Trust Fund Board, Reserve Bank of Fiji, and the Ministry of Trade, Cooperatives, SME and Communication, launched the “Fiji enterprise engine” or “FEE” program in 2019.
This initiative represents the Pacific region’s inaugural semi-commercial, private-sector-led business accelerator program meticulously tailored for micro, small, and medium enterprises (MSMEs).
FEE offers comprehensive training encompassing vital areas such as strategic management, human resources management, accounting and financial management, and marketing.
Participants also benefit from personalised guidance provided by local business coaches (LBCs) and a multitude of networking opportunities. The success of FEE underscores how customised support and services boost the growth of small businesses in Fiji.
Each cohort of FEE is a unique assembly of entrepreneurs who forge lasting bonds and build a network that extends beyond the program’s duration.
What sets FEE apart is the culture it fosters within each cohort, allowing participants to embark on their journey, regardless of their business experience.
They identify gaps, learn, unlearn, implement changes, and strive to bridge the gap between their status and their aspirations.
Moreover, FEE provides a safe space for MSMEs to engage in candid discussions about their challenges and experiences. Ultimately, participants are empowered to be catalysts of change, positively impacting lives in their respective spheres. FEE is also facilitated by a team of LBCs and an international master trainer, all of whom share a background in entrepreneurship.
The 14 MSMEs that successfully graduated from the 2023 FEE program are as follows:
• 7 Design Events
• VATUmanna
• Viti Roofing & Construction Pte Ltd
• 6th Sense
• Shop Pasifika
• JBROS – Joseph & Brothers Design Solutions
• Sugarose
• Moana Loa Performing Arts Centre
• Design Catalyst Fiji
• Dynasty Tours & Travels
• TABS Investments
• Only Idea Studios
• Atelier 153
• Vuadomo Waterfall
These entrepreneurs carry with them the knowledge, skills, and experience to take their businesses to new heights, contributing to Fiji’s economic growth and prosperity. FCEF remains dedicated to supporting and promoting the impressive achievements of MSMEs in Fiji.
• ANISHMA PRASAD is a communication officer for Fiji Commerce and Employers Federation (FCEF). The views expressed in this article are the author’s and not necessarily the views of The Fiji Times.
