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No Money Woes for


  • pg 1
									Issue 4                                                                                           December 2004

                                                   No Money Woes for
                                    “I‟m looking forward to Christmas and to buy gifts for my grandchildren and
                                    something special for myself. I don‟t have to worry about looking around for
                                    money as I know I have my savings for the festive season,” says 53 year old Loata
          Inside this Issue-        Cimavilakeba who operates a stall at the Flea Market in Suva, Fiji.

No money woes for                   “Being a member of a savings scheme is so useful and we don‟t even have to close
                                    our business and go to the bank as the savings staff come directly to us,” said
Christmas                      1

                                    Many other self-employed women like Loata
Thousands receive                   share the same sentiments because they have
savings training in Fiji       2    been regularly saving with the UNDP/PSLP
                                    savings scheme called „COME SAVE‟. This
                                    is currently in Raiwai, Raiwaqa, Mead Road/
FREE Shop craftspeople              Nasova and Flea Market.
win FDB Awards                 2
                                    Loata is the top saver for 2004 under this
                                    scheme with more than $1, 000 banked.
                                                                                          Loata with Tima from PSLP
Business training for               The COME SAVE initiative was launched in 1998. It allows low income families
Pacific Youth                  3    to save regularly to meet family expenses, schools fees, customary obligations and
                                    to invest in business opportunities. Savers pay a service fee to enjoy a convenient,
                                    affordable and reliable savings service. This model is being adopted by other Micro
Editorial                      3    Finance Institution‟s in Fiji, Vanuatu and Samoa.

Biz Tok                        4    While many will use their savings during Christmas, some wait until the start of the
                                    school year to utilise it for children‟s school expenses.

                                    Another saver Bhagya Wati, 46 works for Ranjit Garments Manufacturing Ltd and
                                    is the sole breadwinner for the family. She supports her two children at university
                                    in Fiji and India from her savings.

      Pacific Sustainable           “I always use my savings to pay my son‟s airfares to India and hostel fee. This is
                                    my only saving and I know that whenever I need money it is there,” said Bhagya.
   Livelihoods Programme
 (PSLP) is a regional technical     She has saved more than $4,000 this year. She is the highest saver among over 300
  facility based in Suva, Fiji to   savers from Ranjit Garments.
provide Pacific Island countries
  with value-added services to      Ranjit Solanki, chairman of Ranjit Garment said, “The savings scheme has created
   eradicate poverty through        a sense of security amongst our workers. Some of them have been able to tap into
sustainable livelihoods creation.   these savings in times of their need for education, bereavement and other social
                                    obligations.”                                                                   1
     Thousands Receive Savings                                Pg 1 cont.d
          Trainings in Fiji                                                     Bhagya is a member of UNDP/PSLPs
Surprising as it may be, some villagers forgot about their                      „Workers Savings and Loans Scheme‟ that
grog bowls for four hours while engrossed in the savings                        was introduced in 1999 to encourage
training and only doing ‘taki’ at the end of the session.                       factory workers to save. Ranjit Garments,
                                                                                Carlton Brewery and Mark One Apparel
Such was the scene at Koro Island in Fiji during the                            are active partners.
financial literacy training.
                                                                             Over the years technical assistance has
So far about 3,000 villagers have attended trainings in 59    been provided to National Centre for Small & Micro-
villages in Tailevu North, 12 villages in Naitasiri and all   Enterprises  Development       –Microfinance      Division
14 villages on Koro since October this year.                  (NCSMED-MFD), Fiji Council of Social Services (FCOSS)
                                                              and AGLOW in Fiji, Vanuatu Women Development Scheme
The three and a half hour training on how to manage and       (VANWODS) in Vanuatu, South Pacific Business
save money is conducted in the Fijian language. This is       Development (SPBD) and Women in Small Enterprise
conducted by UNDP/PSLP and Microfinance Division              Development (WOSED) in Samoa.
trainers. Tailevu and Naitasiri provincial council workers
were also involved where they first received training from    All these schemes have generated thousands in savings and
UNDP/PSLP and then join the team to conduct village           are serving around 10, 000 active clients.
based workshops.

PSLP trainer Tom Victor says that the response from
villagers had been tremendous.                                     FREE Shop Craftspeople Win FDB
                                                                       Small Business Awards
A villager from the Wainibuka area said: “If only I had
                                                                Another milestone for Fiji Retail Enterprise Engine -
known this (…how to calculate my income and manage
                                                                FREE Shop, as it turns a year old, with three of its
my expenses) 15 years ago I would have saved myself a
                                                                incubatees making a clean sweep of the 2004 Fiji
lot of money.”
                                                                Development Bank National Small Business Awards in
                                                                the Handicraft category.
“Saving money was not part of our life. But now we know
how we can meet our children‟s education needs and keep
                                                                Adi Vuya Raratabu owner of Tabuadrau Designs was
money for our groceries.”
                                                                the winner for 2004 Small Business Awards-Handicraft
                                                                while Salosi Kaloukeibatiki from Leather Craft was the
The Financial Literacy training is part of the „Rural
                                                                runner up. Taboa Ratu owner of Pillow Talk received
Banking – Save, Invest & Grow” initiative that was
                                                                Commendation Certificate under Fabric Arts category.
launched in August by the Australia New Zealand Banking
Group (ANZ) and the United Nation Development
                                                                Adi Vuya received $1,000 and an engraved plaque while
Programme /Pacific Sustainable Livelihoods Programme
                                                                Salosi got $500 with a plaque.
                                                                The trio are part of the UNDP/PSLP business incubator
The training helps people understand their own financial
                                                                located at Garden City Shopping Complex in Raiwai,
well-being, how to calculate their income and expenditure
                                                                Suva. The „FREE Shop‟ has been set up to give aspiring
over a period of one year, how to set goals and budget,
                                                                artists and craftspeople training and assistance to
why and how to save and plan for the future.
                                                                effectively grow their business.
All participants, including women, men and youth learn
                                                                The FDB recognition of these artists proves that the
how to prepare their household budget and savings plan by
                                                                FREE Shop has been successful in assisting the growth
doing exercises during the training. More training is
                                                                of budding entrepreneurs attached to it. The venture
expected next year covering the whole of rural Fiji.
                                                                was launched in December last year by UNDP/ PSLP
                                                                with help of 22 private sector partners to provide retail
                  Handy sites                                   space, shared office facilities and services to incubatees.

  Check out the following Business related                      The inaugural National Small Business Awards is an
  websites:                                                     initiative of the Fiji Development Bank (FDB) in
       www.australianbusiness.com.au                           conjunction with the Committee for Enterprise
       www.businesssuccessebooks.com                           Development (CED) to recognize innovative and
       www.businessownersideacafe.com                          sustainable projects. Read more on criteria etc on
       www.thecommenwealth.org/cyp                             www.fijidevelopmentbank.com

                    Business training for Pacific Youth
Thanks to First Australians Business (FAB) and
Commonwealth Youth Programme (CYP), this year young                      Analyze their business operations using diagnostic
entrepreneurs from Samoa, Fiji and New Zealand were                       tools
invited to be part of a business training workshop for                   Develop strategic thinking and planning for their
indigenous people in Australia. The workshop was held                     business
from 24th to 29th October at Cedar Creek Lodge in the                    Obtain management skills necessary for survival
Tambourine Mountains, just outside of Brisbane, Australia.                and growth
                                                                         Better understand financial management and
The Implementing Enterprise Workshop or “IEW” had a                       analysis
total of 30 participants, 24 aboriginal and six Pacific island           Develop an effective marketing strategy for their
entrepreneurs. The focus of the workshop was to assist                    business
established entrepreneurs to “take the next step” by                     Apply “best practice” business principles to their
developing analytical tools and specific plans to effectively             business
grow their businesses.
                                                                         Create a business plan for the future of their
Malcolm Bossley, PSLP‟s Business Development Specialist
was also invited to assist as one of the workshop facilitators.
                                                                  “The training has helped me save hundreds of dollars for my
“It was a great opportunity for young business people from
                                                                  business as I learnt to handle business problems myself and
the Pacific to exchange views and share experiences with          turning issues we don‟t like in our favour and making it
aboriginal entrepreneurs, giving them a new perspective on
                                                                  work for us,” said Beddoes.
business and appreciation of culture” recapped Malcolm.
                                                                  The IEW workshop will be held again next year, so for those
                                     As a prerequisite to
                                                                  of you who have already completed your Retail Skills
                                     attend      the      IEW
                                                                  Workshop for Young Entrepreneurs, it is something
                                     workshop, participants       definitely worth applying for and for those of you who have
                                     from the Pacific needed
                                                                  not, keep checking with PSLP to find out when the next
                                     to have successfully
                                                                  retail skills workshop will be held in your country.
                                     completed the Retail
                                     Skills Workshop for
                                     young       entrepreneurs                           Editorial
  IEW workshop participants          which is held annually
in various countries throughout the Pacific and was                                  Bula and greetings to our readers!
highlighted in the previous issue of PEP Talk.
                                                                                     Holidaying, shopping and partying
“This workshop was a perfect add-on from the previous                                is here again and we wish all our
Retail Skills Workshop held in Nadi this year and the                                partners and readers joyful Christmas
exposure to new people and business models really changed                            and success new year.
the way I now think about business” said Mr. Franky
Beddoes, one of the two Fiji participants selected for the         I hope you have all found something useful in the past
IEW.                                                               issues of our e-newsletter since May this year. All the
                                                                   copies of PEP Talk will be available on our website from
Young entrepreneurs benefited from renowned business               January 2005.
trainers including Steve Cordiero, Alex McDonald and Mark
Rose who have worked extensively throughout the Pacific            Also it was very encouraging to get feedback from our
and have been heavily involved in other similar South              readers and we will be supplying information to those who
Pacific business development workshops for many years.             have expressed interest in getting copies of the financial
                                                                   literacy training material under the „rural banking
Workshop facilitators included Bridget Garay (FAB                  initiative‟.
Mentoring Coordinator), Leanne Smith (FAB Director),
Nicole Cassar (FAB Director), Skei Batton (FAB Regional            For those who need further information on any of the
Workshop Coordinator), Malcolm Bossley (Pacific                    projects highlighted in the e-newsletters or need assistance
Sustainable Livelihoods Programme, UNDP) and Yumiko                with enterprise development, do contact our specialist at
Olliver (Ministry Social Development, New Zealand).                PSLP. For any enquires from next year, please contact
                                                                   Malcolm Bossley or Roderic Evers.
The IEW workshop provided hands-on learning in a fun
environment, where participants were given the opportunity                                Vinaka!
to:                                                                         (A.Prabha –ashwini.prabha@undp.org)

                                                       Biz Tok
                  Seasons greeting and I hope you have had       Try to spend at least 30 minutes on each section.
                  a successful and prosperous 2004. In this                             SWOT Analysis
                  edition of Biz Tok I would like to show        Strengths
                  you how to use a very effective business       The strengths of my
                  analysis tool called “SWOT” analysis.          business are: (list)                I will maximise this by:
                  This looks at the Strengths & Weakness of
                  your business as well as the Opportunities     Weaknesses
                  & Threats it will face in the future.          The weaknesses of my
  Malcolm B
                                                                 business are: (list)                I will overcome these by:
Simply your “Strengths and Weaknesses” are characteristics
internal to your business, for example strength may be your      Opportunities
ability to deliver on time, or alternatively a weakness may be
that you do not have proper record keeping or accounting         The opportunities that
procedures.                                                      will arise are: (list)              I will take advantage of
                                                                                                     these by:
“Opportunities and Threats” are external factors that will
have an impact on your business. For example, a new              Threats
housing subdivision being built near your business is an         The threats my business
external factor that will give you the opportunity to get more   will face are: (list)               I will overcome these
customers. This new housing subdivision could also be a                                              threats by:
threat because more new businesses may now want to setup
in your area as well.                                            With the information obtained from your SWOT Analysis
                                                                 you can now develop strategies to:
One of the most important things when doing a SWOT                            maximise your strengths;
analysis is to be honest with yourself and not to pretend that                overcome your weaknesses;
you have strengths that do not exist, overlook your                           take advantage of the opportunities that
weaknesses or not identify the opportunities and threats that                    present themselves; and
will arise.                                                                   prepare for the threats that will arise in the
Use the outline on the opposite side to do your own SWOT
analysis for your business.                                      All the best for the New Year and remember “if you fail to
                                                                 plan, you plan to fail”!!

                                 HAPPY New Year from PLSP Team!!

                                                                            T
        raining –

                    For more information contact PSLP Tel: +679 3300 399 • fax: +679 3301976
                                            • Email: pslp@undp.org
                                        •Website: www.undp.org.fj/pslp

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