Micro, small, and medium enterprises span urban centers, rural hubs, and maritime communities, driving local employment and economic resilience across the islands.
Many entrepreneurs learn through their own experiences and apply their knowledge as they establish and operate their businesses. However, operating a business does not always come without challenges. One of the major challenges many entrepreneurs encounter is severe roadblocks when trying to secure funding.
According to industry data, Fijiโs MSME financing gap was estimated at approximately $2.2 billion in 2024. While financial institutions regularly market loan packages through promotional campaigns and webinars, many viable businesses struggle to navigate formal lending standards. Consequently, a substantial portion of the MSME sector remains dependent on grants to sustain operations.
To address this, Business Assistance Fiji (BAF) held a structured two-day Access to Finance Training Workshop. Designed to equip MSMEs with the knowledge and confidence needed to engage with financial institutions and explore suitable financing opportunities.
๐๐๐ฒ ๐๐ง๐: ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐ ๐ ๐ข๐ง๐๐ง๐๐ข๐๐ฅ ๐๐๐๐๐ข๐ง๐๐ฌ๐ฌ
Day one delivered an intensive financial literacy workshop, beginning with Understanding Your Business & Business Model, where participants mapped out core planning fundamentals, customer needs, revenue streams, and cost structures through interactive group work.
The morning continued with Market Research & Marketing Strategy, analyzing target demand, competitor landscapes, unique value propositions, and sales-aligned marketing tactics. Participants then moved into Operations & Human Resource Planning, examining premises, equipment, supplier networks, and staffing models to support sustainable growth.
The focus shifted to financial fundamentals during Financial Planning & Cash Flow Forecasting, covering revenue projections, profit modeling, cash flow management, break-even analysis, and debt capacity.
In the afternoon, Risk Management & Finance Readiness addressed identifying and mitigating operational, financial, compliance, and reputational risks. Building on this, preparing a Bankable Business Plan guided attendees through structuring investment-ready proposals.
Participants immediately put these concepts into practice during a Finance Application Group Activity, determining capital requirements, building cash flow projections, defining risk safeguards, and pitching their business readiness.
The day wrapped up with Reflection, Action Planning and Q&A, giving participants time to evaluate their business plans and define concrete next steps for implementation.
๐๐๐ฒ ๐๐ฐ๐จ: ๐๐๐๐๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ ๐ข๐ง๐๐ง๐๐ข๐๐ฅ ๐๐ง๐ฌ๐ญ๐ข๐ญ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ.
The second day shifts focus to direct interaction with representatives from various financial institutions across Fiji. Lenders detail available MSME loan packages, explain eligibility requirements, and outline exact application pathways, allowing entrepreneurs to address specific financing concerns directly with loan officers.
Merchant Finance Pte Limited began its presentation with an overview of Marama Finance before moving on to the various business loan products available through the institution. During the session, a participant inquired whether providing a guarantor is mandatory when applying for a business loan with Merchant Finance. Ms. Vakaosooso, Manager of Marama Finance, confirmed that having a guarantor is a requirement. She further explained that the guarantor may also choose to become a co-applicant, depending on their preference.
Following the Merchant Finance presentation, Thirdroc presented its focus on enabling financial institutions to make faster, more accurate, and compliant lending decisions. A participant asked how they would receive payments through the ThirdRoc platform. Mr. Tawake guided participants through the process and emphasised the importance of issuing quotations, purchase orders, and invoices. He explained that these documents are an essential part of the process, as they provide the necessary documentation to facilitate payments from customers through the platform.
During Mr. Bakosoโs presentation from the Fiji Development Bank (FDB), a participant raised a query regarding SME business loans. The question was timely, as it provided an opportunity to clarify the participantโs concerns and gain a better understanding of the requirements for submitting a business loan application. The discussion provided participants with greater clarity on the documentation and eligibility requirements needed when applying for an SME loan.
The training concludes with a specialized session delivered by ESDN Company under the theme “People and Culture,” which equips participants with effective communication techniques to engage loan officers and financial stakeholders with clarity and poise.
๐บ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐ฌ๐๐๐๐๐๐๐๐๐ ๐บ๐๐๐๐๐, ๐ป๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐, ๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐ ๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐. ๐ป๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐ด๐บ๐ด๐ฌ๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐, ๐ฉ๐๐๐๐๐๐๐ ๐จ๐๐๐๐๐๐๐๐๐ ๐ญ๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐บ๐ด๐ฌ๐ ๐๐๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐.
