Business Promotion Division

by | Jul 24, 2017 |

Role of

  1. Formulation and approval of the Private Sector Development Strategy (PSDS) 2012 – 2015;
  2. Inclusion of financial literacy in school curriculum
  3. Conduct of Start Your Business (SYB) and Improve Your Business (IYB), Financial Literacy and other Business Trainings for women and youths in South Tarawa and Outer islands;
  4. Meetings of the Private Sector Consultative Committee (PSCC);
  5. Conduct of Business Surveys and National Business Award
  6. The Business Advisory and Training Division (BATD) or was established in 2001. It is mandated by 5 staff; 1 Senior Business Advisor (SBA), 2 Business Advisors (BAs) & 2 Assistant Business Advisors (ABAs). One Business Adviser Mr. Ierivita Biriti was seconded to act as a CEO for KCCI on a 3 year-contract. He is now based at the Kiribati Chamber of Commerce and Industry (KCCI) office.

Activities of the Division include:

  1. Business survey and National Business Award: The Business survey exercise for this year 2017 is to be scheduled May - June. The survey conducted twice a week, Tuesday and Thursday and it will take 2 weeks or 10 working days only. This exercise is a prerequisite for the Division’s roles to coincide with the closing of the National Trade Show which will be held in July following independence celebration.. The event is to award outstanding enterprises on annual basis and for this year’s award it will be based on last year assessments.
  2. Develop and conduct entrepreneurship training programs: Start Your Business (SYB), Improve Your Business (IYB) trainings on Tarawa and Outer Islands. SIYB (Start and Improve trainings can be conducted in 5 days. Target participants are youth, women and community as a whole. The outcomes of these trainings are developing a business plan and expanding to other line businesses.
  3. Financial literacy training: This training has been developed with emphasis on promoting the concept of savings. The participants are taught how to develop their household budgets by identifying first their household expenses and revenues. The participants targeted are the informal sector, youth and women engaged in micro enterprises such as selling ice blocks, vendors and hawkers. Participants are anticipated from the Women Ministry to kick start the program. The training can be conducted with either SYB or IYB.
  4. Facilitate the implementation of the Private Sector Development Strategy (PSDS). The PSDS is a living document and a four year plan that coincide with a lifespan of KDP. It contains related issues encountered by private sectors and identification of important roles undertaken by relevant stakeholders. The activities are listed in the action matrix and provide progress from time to time. Given the main challenges and one of the critical issue is limited access to finance that constraining the development of the private sector to encourage new business startups especially among those that are not credible but not eligible to main commercial lending schemes, then the Ministry has consider other alternative in establishment of Micro and Small Business Grant (MSBG).
  5. In doing so, the Ministry does not in favor for the Small Enterprise Development Act (SEDA 2001) given that the Act still inactive and quite takes time to review. Also the Ministry is now proceeding in finalizing the concept paper of MSBG.
  6. Brochure development: Brochures are continually being developed to assist inform and raise awareness to the communities on the services of the BATD and the training programs offered.
  7. Generating Business Ideas training: This training is conducted every Friday at the MCIC targeting KPF members withdrawing their funds under the Hardship scheme. It takes 2- 3 hours and the output of this training is a new business idea. The Division is also attending to invitations from high schools & communities to conduct awareness on business venture planning. The Division is constrained with budget limitation (this year’s budget on consultations, awareness and training programs ie on Virgin Coconut Oil and SAP, lack of coordination from other Ministries & relevant stakeholders, to ensure it has a strong linkage with KCCI.
  8. To tap other means of funding through donors to conduct awareness and training to stakeholders, local businesses on SYB and IYB. KCCI also needs to provide updates and progress reports accordingly.
  9. Provide assistance to existing manufacturing/processing businesses.
  10. Support establishment of local manufacturing/processing businesses.
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