Accessing credit and obtaining collateral are some of the main challenges that Fijian women face when trying to start a business.
Women Entrepreneurs Business Council President Eseta Nadakuitavuki said surveys of its members have revealed that many are discouraged from starting a business because of these challenges.
“When they approach a financial institution or a commercial bank to finance their start-up, their capital or even to expand their business, they are always asked about collateral, so this is one of the main challenges they face. “
The U.S. Embassy yesterday signed a $41,000 grant to the Academy for Women Entrepreneurs (AWE) program for the third consecutive year.
The grant, which was signed by U.S. Embassy Acting Deputy Chief of Mission Rebecca Owen, will fund trained facilitators from WEBC and the Makoi Women’s Vocation Center to guide 130 women business owners through a training and mentorship program.
“This grant will expand opportunities for local businesswomen to increase their skills and help them on their path to success.
225 women have graduated from the AWE program since its inception in 2020.