14 Nov 2011

Small ni-Vanuatu business operators get help from World Bank agency

2:40 pm on 14 November 2011

The success of small to medium sized business in Vanuatu is being seen as a key to spreading the benefits of economic growth.

A business start-up guide has been launched in Vanuatu by the International Finance Corporation, a division of the World Bank.

The IFC developed the guide with help of the Vanuatu Chamber of Commerce and Women in Sustainable Development Association.

The IFC's Christine Bowers says small to medium enterprises are the bedrock of a growing economy.

"It's how the benefits of economic growth are going to be spread right down to the base of the population. When you look at tourism it provides a tremendous opportunity for businesses to start and to provide services to these tourists. But these small businesses is what's putting food on peoples plates and paying school fees."

Christine Bowers says it is important to support local ni-Vanuatu businesses as they try to compete with foreign tour operators and companies entering the country with better resources.