A drive to thrive is the secret to Fiji's recovery
The innovation and resilience of entrepreneurs is proving to be key to driving Fiji’s come-back from a pandemic-induced economic crisis.
Tourism has always been Fiji’s main revenue earner, contributing about 38 per cent of the country’s GDP and supporting 118,000 jobs. As borders reopen, the tourism industry will start rebuilding but not all businesses will bounce back and not everyone will be re-employed.
However Fijians are determined to not just survive, but thrive during this crisis and the small business sector has focused on adaption and renewal. These businesses are key to the economy growing stronger once more.
Good Return is working on the ground to boost growing entrepreneurship in Fiji, working with microfinance partner SPBD on provide microloans to women in small business and developing a new partnership with the Market Development Facility (an Australian Government initiative implemented by Palladium) to train and fund SMEs.
“Over the past year, I have met with so many people who lost their livelihoods after the collapse of the tourism sector”, says Marlene Dutta, Good Return’s Pacific Program Manager. “But I have been in awe at how quickly they have learnt to adapt. Now market sellers have become Facebook sellers, bartering has helped businesses stock up on supplies, and taxi drivers have become delivery drivers for makers across the islands.”
Technology and social media have been key to survival - the ‘Barter for better Fiji’ group on Facebook has 193,000 members and also supports the Fijian Small Business Hub on Facebook. MDF’s #SupportLocalBusiness campaign run with the Ministry of Trade, Tourism and Transport successfully used influencers to visit local businesses and post reviews.
Marlene explains how Good Return is supporting this entrepreneurial spirit.
“Our microloan program with SPBD has been vital during the pandemic in helping women to pivot their business models and try new products and services. We have funded women who have changed from selling kava to building online sales for their weaving; we have helped a family turn their property into a flourishing horticulture production and a tapa maker access new overseas markets in Australia.”
“With our new partnership with MDF, we can expand this to SMEs which have the potential to employ more women, and build new sectors and markets in Fiji. We’ll be there to help them access finance and business planning skills - but the drive and the desire to rebuild all comes from these amazing women.”