Small business is not “a side hustle”
SMALL and Medium Enterprises are not “just side hustle or sideline business” but are the engine for economic growth in many of the first world countries.
This was the message to more than 10 women entrepreneurs who underwent a three-day training under the Trade Enhancement Program of the Ministry of Trade, Co-operatives Small and Medium Enterprises and Communications by the Ministry’s acting director and registrar of Co-operatives, Iosefa Koroidimuri.
In closing of training and certificate presentation for TEP recipients, Mr Koroidimuri told the participants that in most first world economies, the contribution of MSME’s was 80-90 per cent of gross domestic product (GDP).
“In Fiji, the contribution of MSME’s is only 18 per cent of GDP so what we are trying to do for whole of Government is to try to increase that.”
He said the contribution of MSME’s as engines of growth were two pronged; firstly, it assists in poverty alleviation; and it creates employment.
“When you go out there and start your own barbeque or grog or tailoring business, when that grows you are more likely to employ a relative so I want to encourage you to go out to your communities and don’t look back,” Mr Koroidimuri said.
One of the trainees was 56-year-old, Geeta Anjali, a tailor who originally hails from Labasa but currently resides in Khalsa Road.
The mother of four feels that the training was a great eye opener for her and the other participants especially as it taught them how to treat the work they are doing as a “business”.
“We were told that rather than just using up all the money we earn from tailoring or whatever business we have, we must first take out the cost or expenditure and even give ourselves an income,” Mrs Anjali said.
“This training is really good for us ladies doing small business as they tell us to do record keeping and even advise us how to cut down on wastage, like if we have leftover materialshow to use that to make doormats or even clothes for the babies.”
Delving a little into her life, she told how during the move from Labasa to Suva made it necessary for her to supplement the income that her husband earned.
“I have always like to do tailoring and when someone brings a blouse or lehenga or even school uniform, I used to sew that and earn an income for my family. I have also worked in a garment factory.”
Mrs Anjali believes that it was instrumental for women entrepreneurs to gain knowledge on how to run a business and apply the learnings into their income generating ventures, only then will their business grow.