[Photo: FILE]

The government is moving to overhaul its support for small businesses, saying grants alone are not enough to build a proper ecosystem for MSMEs.

Minister for Business Development Manoa Kamikamica says the ministry is moving to reduce MSMEs’ reliance on grants, as the demand for Government assistance was greater than the available resources.

“We needed to not only focus on providing grants, but rather building a proper ecosystem based on accurate data and a deeper collaboration with private sector and development partners.”

Kamikamica says their strategic plan takes a data-driven approach with the recent launch of their MSME portal.

He says the portal will assist the ministry and other government agencies to know where these businesses are located, their operations, challenges, and the support that is required.

Opposition MP Rinesh Sharma says the focus should be on reducing cost pressures on small businesses.

“I call on this government to match its training initiatives with tax relief that allows small businesses to keep what it earns, review the vet burden on essential goods and small trader turnover, work with local authorities and landlords so that a young entrepreneur is not priced out before they open the doors”

Sharma says that access to finance is not the only constraint, as uncertainty with land leases affects MSMEs who wish to invest and diversify.

“I feel that uncertainty around land leases has held this nation back for decades, Honorable Speaker, and Honorable Speaker, any government, any government who solves the uncertainty around land leases will see Fiji’s economy grow exponentially.”

He adds that addressing the uncertainty with land leases will create confidence for investors and monetary wealth for Fijians.