Twenty-two small business operators and aspiring entrepreneurs have strengthened their skills in business planning, financial management, record-keeping and customer service through a three-day Start and Improve Your Business training program.
The training brought together recipients of the Trade Enhancement Program (TEP), existing small business operators and aspiring entrepreneurs, with a focus on helping participants better manage their finances, make informed business decisions and build more sustainable enterprises.
Permanent Secretary for Commerce and Business Development Dr. Radika Kumar encouraged participants to apply what they had learned to their businesses.
“This is the first step for all of you. The training has helped you build an entrepreneurial mindset and given you a boost of confidence,” Kumar said.
Micro, small and medium enterprises account for more than 80 percent of Fiji’s private sector, making the development of entrepreneurial skills important to supporting household incomes, employment and economic activity in communities.
Participant Marian Sivo, who operates a cakes and pastries business, said the training gave her a better understanding of the importance of maintaining proper financial records.
“Before this training, I thought that keeping records was simply paperwork. However, I now understand that proper records help us know how much money is coming into the business, how much is being spent and whether the business is actually making a profit,” Sivo said.
The training also covered the importance of separating personal and business finances, making responsible decisions and learning from challenges encountered while operating a business.
Business advisory services and further training will continue to support micro, small and medium enterprises in strengthening their operations and creating sustainable income opportunities.
