Use loan money wisely: grant recipient
AS you enter shop 68 at the Suva Handicraft Centre, your line of vision will naturally be taken up by the variety of crafts that are hanging from the ceiling and on the shelf.
The owner of Krishn’s Handicraft, Krishn Chand, said that the success of his business was possible with the Government’s COVID-19 Concessional Loan Packages for Micro, Small and Medium Enterprises.
“Some of the handicraft sellers including myself, we heard that the Government was giving out loans which was also advertised in the newspaper and then we decided to apply,” he relayed.
“I was really happy that my application was approved and since I had gained experience in the area of handicraft, I had a plan in my mind.”
“I thought ahead and was able to get a vehicle for the business and bought more stocks (handicraft items) so that I can progress further,” Mr Chand added.
The 32-year-old said that he has been in the handicraft business for the past 15 years and gained experience in the field while working for someone and then decided to open his own shop in 2017.
“In 2021, I received $7,000 in concessional loan from the Government which I injected into my business and it is still growing,” he said.
“I usually buy the war clubs, tanoa and other handicrafts from the outer islands like Kabara and my customers are mostly locals but we also get tourists at the shop.”
“Some days the sales is really good and some days it is not but we don’t really have any choice in this and all we can do is to continue to market the products,” he added.
The closure of borders during the height of COVID-19 hit tourism related businesses hard but many, such as Mr Chand, persevered and remained committed.
So much so that the young entrepreneur explains that he has paid some of the loan amount and will continue to do so.
“I have received another loan through the Fiji Development Bank which has also assisted me in developing my business,” he highlighted.
“The ordinary Fijians and in particular those that are starting a business should take advantage of the Fiji Government’s initiative and apply for the grant,” he said.
“Those who are getting grants from the Government should only use the money where it is needed to grow their business because it is of no use if you abuse the money on food and drinks.”
“The lowest price of any item at the shop is $5 and the most expensive item is the tanoa selling for as much as $1800 a piece,” he added.
Mr Chand also has a Facebook page where he gets orders from the customers while also doing wholesale to Tappoos.
“I wish to continue investing in my business and keep improving and succeeding in it,” he noted.