The entrepreneurial spirit is alive and well in a small family-owned business T Tioti Services, based in Kiribati.
Tioti Services continues to expand by recognising opportunities, working diligently, and actively pursuing both financial support and advisory services.
Established in 2016, the business is owned by Tiantaake Mariana and her husband Tiinia Takaria. “We started out providing small-scale tree cutting, canoe tour guiding to North Tarawa and DJ hire for events,” says Tiantaake.
Today the business has a primary focus on event equipment hire and fishing. “The demand for our event-related services has grown rapidly over the years and now we employ 18 staff members – nine engaged with event hire services and nine employed as fishermen.”
Always looking to improve the business, this year Tiantaake sought help from a financial advisor to complete their annual report and get their books in order for taxation and reporting. “We wanted to strengthen our operations and reduce the financial pressure on the business as we expanded our services and equipment base.”
As an active member of Kiribati Chamber of Commerce & Industry she was put in touch with BLP approved financial advisor Etita Ruby from 7s Rubys Accounting firm.
As a BLP approved advisor, 7s Rubys Accounting was able to secure for T Tioti Services a 50% BLP subsidy to help pay for the cost of the financial services. A big savings for any small business.
“The BLP subsidy has significantly helped to ease our financial burdens and cover essential business expenses. This assistance allowed us to operate more efficiently and continue providing reliable services to our customers,” says Tiantaake.
Actively seeking funds for business growth
Over the years, the business has sought funding support to grow their business. In 2019, seeking to expand the event operations and capacity to meet the growing needs of their clients, they sought financial support from the Development Bank of Kiribati (DBK).
“With this funding, we were able to import special event equipment including event tents and a truck for transporting these items.”
In 2020, the business expanded its operation to the fishing sector after securing a loan from a KCCI stimulus loan operated by the Development Bank of Kiribati to buy a fishing boat and engine.
“We plan to have a branch in Kiritimati due to population growth on the island and huge space for business operation. We are also seeking further funding opportunities to purchase additional event equipment, fishing and tour guide gear, including a fishing boat and a tour guide boat.”
Tiantaake proudly says she is confident of a sustainable future for T Tioti Services. “We aim to continue growing, expanding our services, and creating more employment opportunities for local people.”
She says, “E rangi n Tamaroa ana service te BLP bwa e nang ibuobuoki nakoira ngaira ake ti tibwa rinnakoa te karikirake.” Translated this means heartfelt appreciation to BLP for its ongoing support for young entrepreneurs. “The support for businesses is highly needed.”
BLP is proud to support entrepreneurial businesses like T Tioti Services, to help them develop and grow through advisory and financial services.
BLP facilitates access to business advisory services and financial support. To start your journey with BLP, you can self-assess your needs by using the free online tools available to help small- and medium-sized businesses diagnose areas in their businesses that an advisor could improve.
The first step can be the online Business Health Check. You can also check your business’s resilience to respond to crises or climate change challenges on the Business Continuity Planner and the Climate Action Sensor. If you prefer to meet a local BLP representative in person to discuss your business, get in touch with our local partners to arrange a face-to-face Diagnostic.