Small medium enterprises (S.M.E) in Samoa represent 88.27 per cent of all enterprises, which indicates the vital role such businesses play in developing Samoa’s economy.
This is according to Samoa Business Network (S.B.N.) New Zealand Chairperson, Laura Keil-Hall, who was in Samoa for the S.B.N. Business Trip earlier this week.
Ms. Keil-Hall acknowledged the vital role micro, small and medium businesses play in a healthy economy.
Referring to the S.B.N. Business awards held earlier in September, Ms. Keil-Hall reminded the gathering the importance of acknowledging the resilience, perseverance, creativity and ingenuity of Samoan businesses owners in Samoa and across the globe.
“We all appreciate the fundamental role small businesses play in supporting a vibrant and strong economy. In New Zealand, small medium enterprises represent 97 per cent of all enterprises,” she said.
“Here in Samoa the figure is 88.27 per cent, which reaffirms a few things for many of us. One is the vital role of S.M.E. to our ongoing economic development. Secondly is the need for our peoples to work together to celebrate and support Samoan entrepreneurial excellence.”
The emphasis on having strong relationships between Government and the private sector were highlighted in the first session of the Business Mission.
Representatives from Ministry of Commerce, Industry and Labour and Ministry of Foreign Affairs and Trade came to the table with presentations focused on government policies that enable investment environments that are conducive to business and trade.
The potential of the Tui Samoa Cable was widely discussed and what it meant for businesses present in providing reliable and efficient access to businesses wishing to promote/sell their products.
Co-founder of WE Accounting and Business Services, Eli Tagi shared their vision for growing authentic businesses, and explicitly stated their company’s intentions of setting up business in Samoa, with an eye on forming partnerships and participating in community development.
The event closed on Thursday with a dinner at Tanoa Tusitala Hotel. On Friday, members of the New Zealand business delegation had one on one business meetings with stakeholders and local business leaders which were facilitated by the Samoa Business Network.