Micro And Small Business Grant Recipients Will Be Monitored: Koya
Micro and Small Business Grant ( MSBs) recipients have been told that their progress will be monitored by the Ministry of Industry, Trade and Tourism.
Monitoring will start in six months time.
Minister for Industry, Trade, Tourism, Lands and Mineral Resources Faiyaz Koya said: “The monitoring will enable us to evaluate the impact of the support provided to your business and how has it improved your livelihoods.
“Monitoring will assist the Ministry determine if there was a need for training and or additional support.” Mr Koya disbursed a total $78,528.96 to 80 Micro and Small Business entrepreneurs in Levuka yesterday.
The 80 recipients received $1000, $990 or $980 depending on the quotations they submitted.
Mr Koya advised the recipients on how the grant could be invested in various ways to improve their businesses.
He said it would bring a lot of changes and development amongst the communities.
“Since the inception of this event in 2014, the Fijian Government has invested a total of $16 million to support 16,685 recipients all over the country,” he said.
“So far the results of the grants have been very positive towards improving the livelihood of at least 83,425 Fijians,” he said.
Mr Koya said that formal Micro and Small Business Enterprises (MSBE) contributed up to 60 per cent of total employment and up to 40 per cent of national income (GDP) in emerging economies.
“These numbers are significantly higher when informal enterprises are formalised,” he said. Yesterday marked the 30th phase of the Micro and Small Business Grant distribution.
The Government through the Micro and Small Business Grant has been able to formalise over 15,000 Micro and Small Business Entrepreneurs
Mr Koya recently distributed grant to 4682 Micro and Small Business Entrepreneurs in the Northern Division.