Bdf final

BUSINESS DEVELOPMENT FUND The Business Development Fund (BDF) is a grant scheme administered by the Pacific Islands Private Sector Organisation (PIPSO) to assist small and medium enterprises (SMEs) of the Pacific Island Countries (PIC) and community-based organisations with commercial interests which are characterised by limited financial resources, a lack of access to capital, and often an undue reliance on debt.

The grant scheme assists those identified above to increase their economic independence, create sustainable employment opportunities and also address the capacity building needs through shortterm training attachments and advisory services preferably within the Pacific region’s SMEs. The BDF aims to enhance economic development of the private sector through the facilitation of market research and increased market access, capacity building in product development.

The enhancement of businesses also takes the form of the development of promotional materials.

Furthermore the BDF also aims to facilitate technical advisory services and/or practical hands-on training attachments to increase the skills set, operational and technological capacities, enhancing competitiveness of the region’s private sector.

In addressing the confines in which Pacific businesses operate today it is vital that the BDF is relevant to the country specific business environments to give businesses an opportunity to develop and grow their businesses for a thriving economy as a whole.

ELIGIBILITY CRITERIA To be eligible for the BDF, a business/enterprise must meet each of the following conditions: i. Must be registered and conducting business in one of the fourteen (14) Forum Island Countries;

APPLICATION PROCESS

PIPSO advertises calls for project proposals at least twice a year for the Private Sector as per the outlined areas of assistance.

An application form can be downloaded from the PIPSO website. All applications will need the endorsement of your National Private Sector Organizations (NPSO).

For more information on how to complete the application forms, you are encouraged to speak with officers from your local NPSO. You can contact PIPSO if you need information on your NPSO. Incomplete applications will not be processed and will be returned to the applicant.

Applications may be deemed incomplete for the following reasons: • Failure to submit typed applications; • Providing very limited information without much detail; • Lack of necessary supporting documents including quotations, travel plans, meeting schedules, financials as appropriate; • Lack of proper disclosure or certain statements in the application is found to be untrue or lacks any evidence or support.

AMOUNTS TO BE AWARDED

Any funds awarded under the BDF must fall within the following amounts: • Regional Activity-activity to take place in any of the 14 FICs - FJD 8,000.00 • International Activity-activity to take place outside any of the 14 FICs - FJD 10,000.00 Assistance is provided on a cost-sharing basis and as such assistance will not exceed 70% of the total costs of the project. The project must be co-financed from the applicant’s or partners’ own resources, or from other funding sources including the donor communities.

POST PROJECT REPORT

ii. Has been trading for not less than twelve (12) months from the date of submitting their application; and

Upon completion of the project, the applicant is required to submit a comprehensive report to PIPSO Office within THREE (3) weeks after the project implementation.

iii. Has not been assisted under the BDF Scheme for preceding 2 years, i.e. Applicants can only reapply after a period of two (2) years from when they were first assisted.

All related receipts/invoices must be submitted together with the report. Be sure to include other aspects as outlined in the approval letter. A follow-up review may be conducted on your project to ascertain the success of the funding provided.

Pacific Islands Private Sector Organisation

TYPES OF ASSISTANCE The BDF grants are offered on a cost sharing basis at the discretion of the Secretariat. i. Market Research This component assists applicants with the gathering of information such as consumer demographics, product demands, product specification, packaging and labelling specifications and prospective markets through research. This can apply to new products or existing products. The research can be conducted either internally or externally and results of the research must be included in the report upon completion of the project. ii. Exploration Visits This component encourages applicants to explore opportunities for their goods and/or services in target markets. Applications for this component must include evidence of research that was conducted on the market that will be visited, and a confirmed schedule of meetings with prospective customers. The meeting outcomes must be included in the final report submitted to the PIPSO office. iii. Exhibition/Conference Participation This component allows the applicants to participate at exhibitions and/or trade conferences where they can promote their products and network with prospective buyers. Documents relating (formal invitations) to the applicant’s participation at a conference or exhibition must be included. iv. Product Development This component assists the company with the product development process by refining or revamping the product to meet market demands and requirements. This category also includes product packaging and labelling. v. Product Quality Assurance This component assists the company with the product quality assurance in order for the product to obtain the necessary certification or quality tests that would be required for the products to be exported to overseas and regional countries. vi. Promotional Material This component provides the means for the applicants to produce promotional material such as brochures, posters, advertisements or websites which are crucial to the promotion of a product or business.

The assistance should cover the cost of design, layout and printing, and is offered for new material (no reprints) and as one time only. vii. Business Development and Capacity Building and Training for Employees

For further information on the BDF guidelines, please contact: NPSO Office in your country; or Pacific Islands Private Sector Organization (PIPSO) Office,

a. Engagement of experts to provide advisory services and training assistance to SMEs; or b. Short-term hands-on training attachments for key personnel with more established SMEs or relevant institutions.

P. O. Box U30 USP, Suva, Fiji.

Phone: (+679) 7736 303

The duration of training attachments and advisory services under BDF would cover up to two (2) weeks.

E-mail: bdf.prog@pipso.org.fj Website: www.pipso.org

Pacific Islands Private Sector Organisation