Title: Micro and Small Business Enterprise

Development in Fiji: A Case Study of Fiji

Introduction

Small business enterprises are becoming more widely recognized as important contributors to economic growth
and development as they provide a substantial contribution to the creation of jobs as well as the provision of
low-cost goods and services (Government of Fiji, 2021). Small businesses have a more important role in small
pacific island states where size, technology, capital, and other resource constraints hinder the successful
creation of large businesses. In such states, small business enterprises play an important role in delivering goods
and services to society (Reddy, 2007). Fiji's small and micro-enterprise sector employs a considerable part of
the Fijian population. Fiji Development Bank defines small business into classifications based upon revenue
irrespective of the number of employees.
Business types Revenue
Micro $0- $50,000
Small $50,000 - $300,000
Medium $300,000- $1,250,000
(Government of Fiji, 2021)

When deciding to start a business, it is important to first determine the type of business to set up. Otherwise, the
development stages may appear complicated and be time consuming. Being resilient is a critical ability that one
should master as a business owner. There are numerous sorts of legal entities that one can form under the
Partnership Act43 (Ed. 1978) and the Companies Act (2015). These include; Sole trader, Partnership, Private
limited liability company (LLC), Public companies and Cooperatives. A sole trader business structure is the
simplest and most popular kind of enterprise in Fiji.
 Sole trader - is a basic corporate form in which one person operates and owns the whole company. A
sole trader is allowed to keep all profits after taxes, but is also accountable for all losses incurred by the
business (SumUp, 2011).
 Partnership - is made up of two or more people who merge their resources to create a company and
agree to share risks, profits, and losses. Law firms, medical groups, real estate investment firms, and
accountancy firms are all instances of common partnership businesses (American Express, 2020).
 Private limited liability company (LLC) - A corporate structure in which the company's members are not
individually accountable for the company's debts or liabilities. A private corporation must have at least
one director who is a resident of Fiji. There are limits on shareholders' capacity to transfer their shares
(as opposed to public businesses where shares are freely tradeable).
 Public company - a firm in which ownership is transferred to broad public shareholders via publicly
traded stock shares (Banton, 2021).
 Cooperative - is a form of partnership that is owned and governed by its members, who also use the
cooperative's goods and services (LaMarco, 2018). A cooperative must have a minimum of ten members
to be formed, and once registered, it is regarded a legal entity. To administer governance arrangements,
a group inside the cooperative must create bylaws.
However, the majority of these small enterprises confront a number of issues that either prevent them from
entering the field or make survival difficult, this is mainly because some small business entrepreneurs lack
knowledge on the type of business to start and proper methods to register and market their business. The study
will focus on the overview of SMEs in the country followed by the challenges they encounter, opportunities and
strategies for growth.

2. Overview of Micro and Small Business Enterprise in Fiji

Micro, Small and Medium Enterprise (MSME) is an acronym for Micro, Small, and Medium Enterprises
Development (MSMED) Act of 2006, businesses are divided into two categories (Anon., 2021). A
microenterprise, sometimes known as a microbusiness, is a mall company with a small workforce. A
microenterprise employs fewer than ten people and is founded with a small sum of money borrowed from a
bank or other institution. The majority of microbusinesses focus on supplying goods or services to their
immediate communities (James, 2021). A small-scale organization, or simply a tiny business, has a small
number of employees and a restricted flow of funds and supplies. Google, General Motors, and Wal-Mart, for
example, are certainly not tiny businesses.
In most developing economies, small enterprise is critical for reducing poverty and providing jobs. This is
especially true for the small Island nations of the South Pacific. The truth is that little is known about the
development of micro and small businesses in the South Pacific Island states. Well- publicized anecdotes about
a few highly successful entrepreneurs in Fiji have affected many popularly held assumptions about small
business growth. There is no unanimity in Fiji on the utility of such microenterprises in poverty alleviation and
national development, despite the fact that it boasts the largest economy among the South Pacific Island states.
Small businesses must become more strategic by implementing business performance measurements, managing
risk and uncertainty, implementing more sophisticated systems and procedures, and becoming more aware of
regulatory obligations in order to be successful (Chelliah, 2012). MSME in Fiji is also in charge of monitoring
and evaluating MSME-related project implementation. MSMEs (Micro, Small, and Medium Enterprises) are the
foundation of the Fijian economy. The ongoing enrolled number of MSMEs in Fiji given by different
foundations demonstrates that there are somewhere around 20,580 formal MSMEs in Fiji. The degree of casual
MSMEs is not set in stone, nonetheless, the drawn-out objective will be to graduate more MSMEs into the
proper area (Anon., 2017).

Fiji Bureau of Statistics reports that the MSME area makes up 97% of absolute foundations in Fiji and is
overwhelmed by the help area, with MSMEs contributing 72% towards Fiji's Gross Domestic Product (GDP)
and 91 percent of towards MSME foundations. This is trailed by the assembling area, with MSMEs contributing
23% towards our GDP, and 9 percent of MSME foundations (Anon., 2017).
The Fiji National Provident Fund has assessed those 53,855 individuals are officially utilized in the MSME area
and this records for 37% of the conventional workforce in Fiji (Anon., 2017). They account for about 60
percent of Fiji’s labor force and provide over 18 percent of the country’s GDP. MSMEs, on the other hand,
encounter difficulties in establishing and operating their businesses. Access to markets and market intelligence,
the availability of capital, and the weight of regulatory requirements to do business are only a few of them. The
problems continue to provide impediments that can be overcome to create a more conductive climate for
MSMEs to grow (Anon., 2020). If the Fijis economy is to thrive, the development of micro, small, and medium
enterprises (MSMEs) is critical. Essentially, assistance donors and the government are both interested in the
expansion of MSMEs (Brigham and ERhadt,2010). The majority of small business owners have expressed a
need for government assistance with tax concerns, low-interest financing, and education and training programs
aimed exclusively at SME businesses, including school programs (Chelliah, 2012). MSMEs in Fiji’s
manufacturing sector have made significant contributions to the country’s GDP, revenues, taxes, and jobs
(Naidu, 2013).
The COVID-19 epidemic poses a particularly serious threat to Pacific Island economies (PICs). While both
large and small firms will face substantial hurdles as a result of COVID-19, many micro, small, and medium-
sized enterprises (MSMEs) in the Pacific will be particularly vulnerable. MSMEs’ survival is critical not just for
employment and production in the Pacific, but also for the development of competition, which is critical for
consumer welfare and long-term economic growth (Simpson, 2020). Beyond public health, the global COVID-
19 epidemic continues to have a significant impact on Fiji. Many restaurants, cafes, roadside stalls, and market
sellers have lost a significant portion of their revenue or are only working at half capacity (Artical, 2021). Some
businesses (particularly, Medium, Small, and Micro Enterprises) are closing down, while others are losing
money and laying off employees. Fijian Families, both indigenous and of Indian descent, are facing uncertainty
even more vulnerable community members (Dean, 2020). Some firms may never reopen as Fiji’s economy is
expected to decrease by 4.1 percent in 2021, following a 20 percent drop last year. According to a company
survey conducted by the Fijian government, 74 percent of MSMEs have closed temporarily, permanently, or are
operated in fewer hours (Artical, 2021). Fiji had an impact on the lives and economics of people all around the
world. Fiji too has been severely impacted, leaving crucial sectors in shambles and in immediate need of aid to
mitigate the pandemic’s consequences. As a result, the Fijian government must make well informed judgements
about how to deal with the escalating issue and its implications for the country. With our Traditional talents, Fiji
has a lot of potential for developing novel products for the markets (Artical, 2021).
Challenges faced by small business in Fiji

Destitution easing through work creation is in many cases considered to be the way to financial advancement of
people in developing countries such as Fiji. In any case, enhancing to work creation doesn't guarantee to help
poor people as not all job positions channel down to the poor and, of those that do, not all effectively help offset
poverty which is a major issue in Fiji as 25% of the population leaves below the poverty line. As stated above;
SMEs are the backbone of the country and contribute over 18% of the country GDP with over 60% of the
population being employed by SME’s (Government of Fiji, 2021). Since SMEs are the largest economy to Fiji,
and the economy has struggled in the past and currently due to covid, there are many challenges face by micro,
small and medium enterprises in Fiji. In completing this assignment, students interviewed and questionnaires
were presented to SMEs business owners in Nadi to get a better idea of their day-to-day activities and from that
it was certain that new entrepreneurs see the administration of their business in slender practical viewpoints as
opposed to a comprehensive, key viewpoint with the most common challenge being that of lack of funds.
From a recent study published by Tara Singh and her colleagues on challenges faced by SMEs in the south
pacific, it is quite clear that Fijian business have enormous problem when it comes to financial management
unlike neighboring island nations. The study showed that majority of the small and medium business
irrespective of race, ethnicity, age, gender and level of education and qualification of the entrepreneur; 90% of
business startup when the entrepreneur is motivated with a particular product/service and conceives a market for
it or is involved in a pyramid style structure, a family associated business (Tara Singh, 2007). Various
examinations and studies likewise have viewed the SMEs area as extensively capital obliged, to the degree that
insufficient financial assets likely could be an essential driver of disappointment for these business and
shortcomings (Neeley, 1996). In an overall overview of 80 nations and 10,000 management seniors Schiffer
and Weder (2001) showed that more smaller firms detailed more elevated levels of development obstructions
contrasted with medium or bigger firms (Schiffer, 2001). A 2002-2003 World Bank overview confirms that
stating that larger businesses have more noteworthy admittance to bank acknowledge looked at for more modest
firms, which are constrained to rely to a great extent upon inside reserves and held income for endurance and
growth. Ostensibly, various variables, including "relationship loaning", dependent essentially upon "delicate"
data accumulated by means of broad relentless and exorbitant cycles to moderate costs, saw diseconomies of
scale and lower profitability of these business deter banks from loaning to smaller business (World Bank, 2002).
Governments have taken charge around the world along with the world bank with providing funds for SMEs to
further develop the industry as small business do not remain small for long if it can be helped as the countrys
biggest producers and manufacturing company Punjas was a small business in the early days as well. One
would think that bank loans would be synonymous with SMEs but this isn’t the case as bank do not have any
issue with provision of funds when it comes to the private sectors but only with SMEs as it is a disadvantaged
industry and banks aren’t interested in investments in all types of business but only with whom return
investments can be high (Gounder, 2012). When questioned on why business owners didn’t seek loans from
banks for their business, the following answers were given

(Gounder, 2012)
The Fiji Export Council also mentioned in an interview with Fiji Times that a lack of finance through loans and
credit from banks dissuaded business from growing especially SMEs. ‘‘Financial institutions like banks are
scared to loan and provide funds for SMEs in Fiji because the chances that the business will fail are high.’’ (The
Fiji Times, 2017).

It can be concluded after seeing the results of the survey above that SME business owners need and want to
accept loans from banks to further develop their business but don’t due to the structures relating to cost of loan
and the adverse requirements that have to be met while banks don’t release funds, loans and credit terms to
SMEs due to their high risk of failure, lack of collateral damage and lack of financial records to prove their
business ideas.

In terms of starting a business, securing investment and accessing resources such as finances are third on the list
after conducting market research followed by the checking of statutory requirements. The fact that a business
has funds irrespective of the amount or levels of investments doesn’t determine that a business will grow and
develop as Financial Management plays as important role (Chelliah, 2012). As mentioned earlier, most new
entrepreneurs are from pyramid structures of family orientated business or through entrepreneurial imitation and
reproduction. Majority entrepreneurs with prior experience from family business are trained in ad hoc basis
(Tara Singh, 2007). A study conducted by Akande on South African SMEs affirmed that financial management
activities such as bookkeeping and monetary administration abilities are significant for business people and
encourage entrepreneurs to set out on limit working in these disciplines with it being reported by entrepreneurs
that financial management skills are key in the development of a successful business (Akande, 2011). In
relation to management of business finances Robin Jarvis and her colleague out that there are five main areas
that SMEs should be informed about in regards to its finances; cost and board bookkeeping’s, arrangement of
monetary examinations, choice on investments, funding choice and working capital arrangement (Jarvis, 2004).
As most common SMEs are first time business owners with little educational background and through family
orientated business, they don’t have the basics of financial management and its importance.

Inadequate managerial experience was also a common answer to our questionnaires as there is an obvious
learning experience to becoming an entrepreneur. There are a lot of skills and knowledge required in running a
small business and every factor matters since 85% of SMEs fail in their first year, barely making it to their
second (GGGI.org, 2019). There is an overall agreement that the seriousness of an individual SME is firmly
connected with the "quality" of the entrepreneur associated with it; Quality is, in this unique circumstance,
firmly connected with the human resources of the person, thus impacted by a blend of formal schooling,
preparing and past experiences (OECD, 2014). New entrepreneurs when they start out don’t necessarily
conduct market research that gives a viewpoint of their products or services market ability and performance of
other related business in the same field, to see whether the interest for their item or administration is developing,
declining or deteriorating (Moya K. Mason, 22). They additionally neglect to dispense the appropriate time for
authoritative duties. Most new entrepreneurs expect most of their time will be spent creating and promoting
their item or administration. Tragically, this isn't true. An exorbitant measure of time is spent on organization -
chatting on the telephone, buying supplies and gear, finishing up government structures, and dealing with other
commonplace obligations (Moya K. Mason, 22). Web business-to-business administrations are assisting with
chopping down the time element of a portion of these obligations; notwithstanding, it's as yet a significant
oversight (Moya K. Mason, 22). A study on US business conducted tells us that poor management have led
business to failure; with a 92% failure rate of SMEs in US, 17000 have been through the result of poor
management, and Canada’s 2598 business failure, around 96% have failed due to poor management by the
owners (Moya K. Mason, 22). The lack of industry knowledge leads to poor management and mistakes that cost
deeply. If a manager is prepared with knowledge of management skills, they can help identify the business plan
of the business, the structure, perform a SWOT analysis, marketing, and costs associated with the running of the
day to day of the business. The lack of an entrepreneur in his or her entrepreneurial skills are deemed important
in the early stages of a business and with there being a big learning curve, not everyone is cut out to run a
successful business in the end (Jacksak, 1998).

The whole point of conducting a business for most entrepreneurs are to make a profit and through our
questionnaires when asked what entrepreneurs were worried about the most, was the cost of doing business.
Fiji is a tropical island country which makes it best for tourism but is ranked 163 by the world bank when it
comes to the cost of doing business which is the 2nd highest in the pacific (The World Bank Group, 2020)
Starting and running a business, upholding agreements and shutting organizations down are complicated and
tedious processes for nearby business visionaries and, surprisingly, more in this way, for outsiders. It is a
climate in which exchanges costs are high and business faces numerous requirements (Asian Development
Bank, 2006). Exchanges costs are high; microeconomic impetuses don't advance proficient distribution of
assets; property freedoms are powerless; monetary business sectors do not reserve speculation and business
venture actually; the business overall set of laws for private area movement is obsolete; there is unavoidable
government presence in numerous areas that outcomes in administrative deferrals (Asian Development Bank,
2006). Meeting statutory requirements and procedures takes time and cost money. The world bank data says
that it takes an average of around 2 months days costing roughly and cost roughly $2000Fjd, 81 days for
procedure around getting electricity costing roughly $5000Fjd (The World Bank Group, 2020). $6000 is for
certain procedures such as:
Checking the uniqueness of the proposed organization name.
Registering the organization with the Companies Registrar.
 Registering for personal expense and VAT.
Applying for a permit to operate in every city town or region where the organization
carries on business.
Registering as a business with the Fiji National Provident Fund (FNPF).
Opening a business account

(The World Bank Group, 2020)

These cost along with many more are high for entrepreneurs when they are starting out building a business and
potentially morally demote entrepreneurs.

Developing an online presence and marketing the business was another challenge that was faced by SME
owners that were questioned. In today’s world, with new technologies every year, its important to adapt to these
and having an online presence is essential in the marketing of products and services provided since almost
everyone has a mobile device with internet capabilities such as social media, access to information on the go
(Kumar, n.d.). 85% of SMEs in Fiji have difficulties with setting up an online presence as most entrepreneurs
aren’t aware of the tools allocated with business online, management skills aren’t that good enough to market
their products and services online (Kumar, n.d.). The appointment of an additionally staff to look after the
online part of the business along with the wages involves deters small business from going this route primarily
(Shavneet Sharma, 2019). Some business owners and management don’t have relevance of how social media
and an online presence can boost their business and are more comfortable to more traditional ways of logistics
and customer attraction. They also don’t want to overwhelm their existing staff to learn these new technologies
as majority are already short staffed, multi-tasking already exits and new pressures on workers would have
productivity issues. Furthermore, only a hand full of customers have credit cards available to them to access
these online or e-commerce sites to purchase products. There’s also always a risk that credit cards can be
hacked and used without consent of the cardholders which doesn’t help consumers in applying for a credit card
as mentioned in the Fiji Development Bank report in 2015 (Fiji Development Bank, 2015). To conclude it can
be said that internet business is not seen by a larger part of the SMEs as compelling, conventional technique for
shopping. This conduct climate in Fiji compelled reception of web-based business. There is also a fairly little
market base for online business in Fiji and appears to be an absence of client trust in web-based business
(Kumar, n.d.).Notwithstanding the somewhat great instructive fulfillments of those in the example, a need of
economic alliance and exchanges.

Opportunities for SMEs in Fiji

Developing an online presence.
With changing times and new technology, having an online reach to consumers increases business exposure
revenue. Web related presence have arisen since mid-2000 through the country. At first just associations and
government divisions could approach web through dial-up administrations; cost also, foundation imperatives
frequently kept others from profiting by ICT advancements. The innovation and cost conditions, be that as it
may, have changed significantly; today a greater part of the organizations and individuals approaching ICT
offices like work areas, web, and portable innovation (Shavneet Sharma, 2019). With times changing and
situations arising in the world, such as covid, and to not fall behind competition companies have been urged to
promote their business online. Since covid-19, there have been a large number of companies registered under e-
commerce (online- business) (Kumar, n.d.). A small business owner was interviewed during the pandemic and
she stated that since conducting business online, she reached more consumers than traditionally and even got
into exporting her products in the pacific (Kate, 2021)When conducting our questionnaires, 3 SMEs had an
online presence while 2 were completely online business that operated on social media sites such as Facebook
and Instagram. The company director for BLP (Business Link Pacific) says that having an online presence
helps SMEs better connect to their customers as they don’t have to be physically present (Goundar, 2021).
Payment methods have also widened in the pacific, as in the past only individuals with credit cards could use
online services and make purchases but not most online business is using payment methods such as Vodafone’s
M-Paisa, Bank Transfer or cash. A business that was questionnaire operated in providing PlayStation services
such as gift cards that accepted payments through methods mentioned earlier. There are many similar types of
online business that customers are benefiting from which they couldn’t get access to before. SMEs are able to
better engage with their customers online and this can happen anytime during the day which increases customer
satisfaction levels with the business; SMEs should engage online as this is a cost-effective way to attract
customers with a wider reach than conventional traditional methods (Shavneet Sharma, 2019).
Expanding into different Markets
Another opportunity for SMEs is that they can expand their business through penetrating into different markets.
Having different sources of income is a great way to expand business and drive revenue plus profits. Pasifika
Nature Healing is one of the SMEs that were interviewed and have expanded their business into different
markets, in this case the international market through exporting their products from Australia to China. They
have also recently launched their products into local hotels where soaps, hand washes are used. This is created
an additional revenue to the business and brand exposure as well. Another business, Dulcia Kava have also
started exporting kava to customers in Australia and New Zealand. Skyway Foods and takeways is an Indian
restaurant which is based in Nadi town have also recently started the catering venture for occasions and venues.
This has helped them reach a wider customer base and additional revenue to the business which is great for
small business.

Joint Ventures
TSTB (Itaukei Land Trust Board) defines joint ventures as a business element made by at least two gatherings,
by and large portrayed by shared proprietorship, shared returns and risks, and shared administration (Itaukei
Land Trust Board , 2018). Organizations normally seek after joint endeavors for one of four reasons: to get to
another market, especially developing business sectors; to acquire scale efficiencies by consolidating resources
and tasks; to share risk for significant ventures or undertakings; or to get to abilities and capacities which are
great for SMEs (Itaukei Land Trust Board , 2018). Farming is a business that is appropriate to joint endeavors.
As the expense of land, gear and supplies keeps on rising, more and more farmers can utilize joint ventures to
build the size of their activities surrounding farming and exploit revenues by scaling and decreasing cost. By
gathering various little tasks in a joint endeavor, farmers may, for instance, have the option to share costly bits
of gear that might be inactive piece of the time, as opposed to every individual farmer buying similar farm
consolidates and equipment’s, trucks for transportation. By joining other farmers, one could cut cost in the long
run significantly while increasing exposure and profits.
Strategies to develop Small Business Enterprise in Fiji

Developing successful small businesses

Small businesses might benefit from business development plans that focus on critical areas of operation such
as marketing, partnerships, and staff development (Ingram, n.d.). Effective strategic management may assist
young firms in navigating the typically turbulent early years, allowing them to become profitable and establish a
strong position in their sector.
Focusing and devoting extensive time to marketing and public relations activities in the early phases of starting
a small business is an excellent foundation for building a stable customer base. The marketing budget may
eventually level out, but it should be one of the highest costs for at least the first year of business. This can be
done by creating a social networking presence and by entering local trade shows like agriculture shows, Roc
Markets, festival showcases etc.
Maintaining a consistent advertising presence while also reaching out to local customers. During the growing
period making a name for your business by reaching out to potential clients in new, innovative and interesting
ways (Ingram, n.d.). Hence, placing advertisements in newspapers, on the social media websites such as
Facebook and Instagram, and on television and radio stations attracts first-time purchases, provide pricing and
product incentives and ensures products and services reach a wider audience.
In addition, forming strategic partnerships is helpful in gaining competitive advantage in the marketplace which
allows an entrepreneur to leverage the skills and capabilities of their competitors and other business firms
(American Express, 2020). For example, partnering with a distribution company can help get your products into
the hands on online or mail-order clients in a more efficient and less expensive manner. When it comes to
forming partnerships, it is important look for companies in industries that complement your business. One
might even consider forming alliances with other business competitors, as some agricultural producers have
done, in order to boost overall demand for their products.
This can also be achieved by investing in employees and seeking customer feedback. Employees may make or
break a new firm, and investing in employee development can lead to better production and efficiency in your
organization. Give early-stage employees access to knowledge and decision-making duties to help them grow.
Employee capacities should be stretched, and a culture of creativity and innovation should be fostered. Allow
workers to offer strategic ideas and take the lead on feasible projects that they suggest. Likewise, seeking
regular client input through social media presence, customer surveys, and informal interactions will allow your
product and service mix to adapt in response to customer feedback in the early phases. Don't be afraid to add or
remove features from your products and services, and use price discounts to entice current consumers to try new
product/service versions.

Conclusion

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