Bank teams up to grow small businesses

By Shalveen Chand 18 April 2024, 8:00PM

There will be 26 small businesses that will be provided with the knowledge and tools to thrive in a competitive atmosphere.

BSP in partnership with Australia Business Volunteers (ABV), announced the launch of its Micro Small Medium Enterprise (MSME) Development Program.

BSP Samoa Country Head Tunumafono Jennifer Ula-Fruean said 26 BSP MSMEs have been selected for the first round of the program with intentions for expansion in the future. The partnership specialises in business training programs, recognising the vital role of small businesses in building a robust economy.

"BSP and ABV are committed to driving sustainable impact through this transformative program, heralding a new era of growth and prosperity for micro, small and medium enterprises in Samoa,” she said.

“We believe that by providing mentorship, access to resources, and networking opportunities, we can help MSMEs unlock their full potential and contribute to sustainable economic growth in Samoa."  

The YES GROW program is a dynamic three-week workshop series with ongoing online coaching and mentoring over six months designed for Samoa’s unique business landscape, delivered by ABV’s network of experienced Skilled Business Professionals.

"We are thrilled to partner with BSP Samoa to introduce this transformative MSME Mentoring and Coaching Program," said Liz Mackinlay, CEO at ABV.

"Our goal is to equip MSMEs in Samoa with the tools, knowledge, and networks necessary to thrive in today's competitive landscape."

A leading non-profit organisation, ABV is dedicated to bridging business expertise with support priorities across the Asia Pacific region, bringing its wealth of experience and resources to this collaboration. With a focus on delivering customised, sustainable, and effective solutions, ABV has a track record of fostering growth and innovation in various sectors.

BSP and ABV have been working in partnership since 2018, delivering the YES GROW program from PNG to Fiji and now to Samoa in 2024.

The YES (Your Enterprise Scheme) GROW program aims to empower local businesses in Samoa by providing industry-relevant workshops, mentorship opportunities, finance management, strategic planning, risk analysis, marketing, customer service and improved networking platforms to ensure targeted entrepreneurs and businesses reach new heights and achieve their bigger goals.

BSP Samoa said it was committed to supporting the financial needs of individuals and businesses across the island. Through this partnership, BSP aims to contribute significantly to the development and success of MSMEs, which play a vital role in the local economy.

By Shalveen Chand 18 April 2024, 8:00PM
Samoa Observer

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