Timely and correct audit reporting is an issue that has been identified as a challenge for micro, small and medium enterprises.
Business Assistance Fiji Chair, Doctor Nur Bano Ali, says they have setup an initiative together with Business Link Pacific to help MSME’s keep up-to-date financial records and timely audits.
Dr Ali says that it is crucial for micro and small businesses to keep updated financial records that can assist them in securing more support in the future.
Ali today announced a total of $200,000 has been set aside to assist MSME’s with the preparation of financial reports with approved service providers.
“This subsidy of $200,000 will be kept at $2,000 per applicant; anything more than $2,000 will be paid by the MSME itself, and it will be for the preparation of financial reports for 2020 and 2021 during the COVID.”
Ali also reiterated that Business Assistance Fiji is a conduit to assist small businesses with their challenges and requirements.
She says they are aware of programmes that are available and can direct entrepreneurs to different spaces or organizations such as FDB that can assist them.
Ali says Business Assistance Fiji will continue to help businesses and will be a one-stop shop for service needs.