The Fiji Development Bank will administer the grant allocation of $1MM, set aside for the development of micro and small enterprises.
Applications will be accepted from today, Monday 15 December 2014 to Friday 30th January 2015.
“This grant is to enable emerging and existing micro and small entrepreneurs to start up or boost their existing businesses to encourage small scale economic activities and generate income,” FDB Chief Executive Officer Mr Deve Toganivalu said.
All individuals with particular skill sets, including but not limited to handicrafts, small scale fruit & vegetable sellers, farmers, market vendors, crop sellers, tailors and any other legitimate form of micro and small businesses will be eligible to apply for the grant.
“As a development financier, we understand that one of the greatest difficulties of establishing a business is the lack of start-up capital to do so. Loans require a deposit and or a form of security.
This grant is certainly going to be very useful in overcoming the barriers to starting up a legitimate business.”
In addition, the grant can also be used by existing micro and small businesses to expand and secure new markets for their business. Similarly, the grant can also be used as equity for loan from any lending institution.
The basic criteria of the grant includes;
– Open to all Fijians 18 years and above;
– Start-up, micro and small business purposes
– Preference giving to businesses with annual sales turnover of $30,000 or less;
– Not a current recipient of a similar government scheme and;
– Must have a valid business license, hawkers or other approval.
Application forms for the grant are now available at any of the 12 FDB branches in Suva, Nausori, Sigatoka, Nadi, Lautoka, Ba, Rakiraki, Nabouwalu, Seaqaqa, Labasa, Savusavu and Taveuni.