25 people have jobs following the opening of the $1 million Hometown Hardware Store in Labasa.
Speaking to fijivillage, business owner Anil Kumar says this is their second shop in the area where they are selling general hardware materials.
Kumar says they have a lot of local support and decided to open a second store due to high customer demand.
He adds their aim is to have a one-stop shop so that people do not have to run around when they need building materials.
While speaking at the opening, Minister for Economy Aiyaz Sayed-Khaiyum says the hardware sector in Fiji has been generally dominated by 3 or 4 companies and the opening of the Hometown Hardware Store is a positive step because people of Labasa can now get better pricing due to competition.
He also says the business model in Fiji needs to change because a number of businesses in the country have this approach of selling a particular product at a very high margin.
The Attorney General says what businesses need to be doing is having a lower margin but a high turnover rate.
Sayed-Khaiyum says it is always a happy occasion when young entrepreneurs start a business, particularly in areas where it will create competition.
He says we had 9 years of economic growth before the COVID-19 pandemic but we are now out of the crisis.
Sayed-Khaiyum says we are seeing the economy bounce back where there is growth in many areas and a lot more people are going back to work, especially in the tourism sector.
