Pago Pago, AMERICAN SAMOA — More than 20 vendors took part in the BizFest this past Saturday, which focused on promoting and recognizing the many local businesses, as well as their contribution to the local economy, which suffered a set back during the COVID-19 pandemic.

Gov. Lemanu P. S Mauga proclaimed Nov. 19 National Entrepreneurs Day and November as National Entrepreneurship Month in American Samoa, coinciding with the “Biz Fest” under the theme “Empowering local Entrepreneurship” organized by the Commerce Department at the field next to the Office of Motor Vehicles in Tafuna.

 “Today, American Samoa entrepreneurship is booming,” according to the governor in his Nov. 18 proclamation, which declared November 2022 “National Entrepreneurship Month”.

The governor’s proclamation notes that a record 507 new businesses launched in 2021, over a 40% increase compared to Calendar Year (CY) 2020. “In CY 2022, we have 404 new businesses registered and 3,489 businesses in total,” the governor said.

The governor declared that: “American Samoa can be defined in one word:  possibilities. Entrepreneurs' willingness to take risks, work hard, and never quit to make those possibilities come alive.”

“They turn vision into reality and ideas into products, profits, and national prosperity. This month, we celebrate their contributions as a point of national pride and recommit to giving them the space and support to ensure American Samoa wins the 21st century,” the proclamation states.

During National Entrepreneurship Month, “we celebrate the doers, dreamers, and job creators whose vision and grit fuel our economy and the essence of American Samoa”, it says.

It states that, “starting and owning a business has always been a key path to the Territory— a way to build wealth, serve your neighbors, and leave a mark in a community and on the world”.

“Requiring risk-taking and daring, entrepreneurs faced additional challenges during the [COVID] pandemic and the economic crisis that it created,” the governor said in the proclamation noting that two years ago, many local small businesses closed while others struggled to find workers and stock their shelves during the pandemic.

“But as we have recovered, our local community has responded with an entrepreneurial spirit, seizing the opportunity to build new businesses and launch new careers,” he said.

To rebuild the local economy since the beginning of the COVID-19 pandemic, the governor noted ASG launched the Business Recovery Capital Program (BRCP), funded by the federal American Rescue Plan Act (ARPA) and administered by the Department of Commerce.

And the BRCP provided three-business economic recovery programs for local businesses impacted by COVID - Revolving Line of Credit (RLOC); Grant Program; and Cash Assistance Program (CAP).

To date, a total of 29 borrowers have received RLOC assistance worth $4.65 million; 191 small businesses have received Grants assistance worth $3.89 million, and a 192 have received CAP assistance worth $1.14 million, according to data in the proclamation.

And “our Administration is working across the board to help them all succeed,” the governor said.

The Biz Fest attracted more than 30 vendors participating in the event this past Saturday. 

“The pandemic has impacted a lot of small businesses on island, but it also provided new business opportunities for our people,” Commerce director Petti Matila said. 

“We are seeing more online shopping and we want to encourage our local entrepreneurs to come out and utilize these kinds of events to showcase their products and services.”

The Director said this is also an opportunity for the department to understand new ways they can develop and design programs to assist small businesses across the territory.