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Indigenous business on the decline: Taoi

 

Mar 19, 2014 02:28:26 PM

Indigenous business on the decline: Taoi Indigenous businesses constitute less than two per cent (2%) of the main stream business operating in Fiji, says president of the Fiji Indigenous Business Council Ulai Taoi.

Speaking at the opening of the FIBC Symposium, Taoi revealed that numbers have also dropped compared to what it was in March 2006.

“In March 2006 I reported that membership was around 136, to date we have 35 members,” Taoi said.

He attributed this to businesses closing for one reason or another.

“Some for reasons of lack of capital, inadequate skills, saturated market to compete in, and lack of private sector confidence in an unstable political environment,” he said.

Taoi said they see the next five years as a challenge if indigenous business people were to make greater impact and meaningful contribution to the nation and the people.

“Actually what happens in the next five years would be more of an interest to us especially to the nation as a whole, perhaps the reason we’re here as a group of business people to plan our future.”

By Vuniwaqa Bola-Bari

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