Most small businesses in Fiji refer to the lack of business advisory services – which are crucial for operating sustainable business models – as a stumbling block to their development and growth. The services they need, range from financial management support and human resources support, to mentoring and guidance on topics such as re-investment or financing options or just a meaningful forum for discussion with other small businesses in the country.
The Market Development Facility (MDF) has developed a pilot business incubation system to provide a more effective way of supporting Small and Medium Enterprises (SMEs) through an outcome and deliverable oriented system.
The MDF Fiji Enterprise Engine (MDF FEE) will enable businesses to focus on growing their business, developing business skills and internal processes, to work towards a sustainable and scalable business model that improves their chances of success in the Fijian economy and even in the region.
The system supports small businesses with technical aspects of running a business (i.e. financial management, basic bookkeeping, operating in the digital space and marketing), and non-technical aspects (i.e. networking with mentors from larger more experienced businesses, networking with other small businesses, and guidance on mid to long term planning). Options for stimulating Micro, Small and Medium Enterprise growth also includes working with other potential partners such as banks, micro-finance institutes, women groups, business groups and chambers of commerce. These collaborations with others, ideally across more than one sector is to find and utilise best practices that fit the Fiji context for stimulating Micro, Small and Medium Enterprise growth.
The aim of the pilot is to clarify constraints stopping growth of enterprises, and most importantly to come up with solutions that can remove these constraints.
Opportunities will also be created for businesses to accelerate their potential through interaction with other like-minded partners, industry players, mentors, bankers, accountants and marketing professionals. The educational component of the incubation system offers a curriculum and mentoring programme that focuses on building more successful SMEs through one-on-one sessions to improve business practices and has been designed based on MDF learnings and experiences working with SMEs in Fiji for the last five years as well as lessons from global business incubation practices
Ten SMEs from the tourism, horticulture and export processing are participating in the pilot phase for of the MDF FEE. MDF worked in close consultation with the Fiji Commerce and Employers Federation (FCEF) and the Fiji Export Council (FEC), to select the ten SMEs for the pilot.
The SMEs that are participating in the pilot MDF FEE are:
· Allied Print Designs – Custom designers of garments and signage
· Naicori Development Limited – Tourist activity provider
· Aswhy Enterprises – Mahogany crotch legs export
· International Resort Supplies – Sources handicrafts from outer islands, produces and sells organic saps, supplies fresh vegetables
· Island Express – Exports fresh, frozen agriculture products
· Niu Venture Creations – Supplies timber – rough sawn and profiled timber
· Rusiate Charcoal Supplies – Produces and sells charcoal to the local market
· Samson Lee Design – Emerging fashion designer. Designs and supplies resort wear, bridal wear and accessories
· The Mushroom Garden – Start-up mushroom business (growing and selling mushrooms)
· Vou Dance (Fiji) Limited – Entertainment Services
Six local and international business trainers and a master mentor is working with the 10 SMEs over a 6-month period.
Local contemporary entertainment group Vou Director Sachiko Soro said, “It’s a real privilege to be with all of these small businesses. It’s really exciting for us to have some time because we’re always running a business to step back and analyse what are we doing, where are we going, how are we doing it, who are we doing it with and how can we make this better for all the people involved. So I feel very humbled and privileged to be able to have this time and this experience.”
Emele Vunisei of Rusiate Charcoal Supplies said, “We’re very glad that we have been selected for this program and I think it’s very helpful for us to grow and expand our business. A lot of what we are learning is really helping us, from strategic planning to business plans and financial management and human resources and it will be very helpful for us in our business as it is hands on with our mentors.”
Small business development service director and MDF FEE Strategic Management business trainer Stephen Cordeiro of Australia says he is passionate about seeing small businesses succeed.
“There is nothing I find more exciting than seeing people develop their small business and developing their ideas to help them grow.
Small businesses don’t operate in isolation. They operate because they have a whole lot of other players around them that makes up their team. And their success is really dependent on how well they use the resources out there to help them succeed.
So what I will take out of this training is how I can get small businesses to get other small business people to mentor them to achieve that success.”
The Market Development Facility Fiji Enterprise Engine will run its pilot program until April, 2017. A second phase is in development and will build on the pilot phase.