The 5th Annual SME Breakfast, held at APEC Haus in Port Moresby recently became a platform to honour and empower Small to Medium Enterprises (SMEs) in Papua New Guinea.
Organized by the PNG SME Magazine, the event gathered key stakeholders, including the Prime Minister, from the agriculture and tourism sectors to recognize the significant contributions of SMEs to the nation's economy.
Themed "Trailblazing the PNG SME Frontier," the breakfast event marked the beginning of SME week and coincided with the international day for micro and SME businesses globally. It aimed to highlight the entrepreneurial spirit and innovation of SMEs operating in Papua New Guinea.
The event featured a bustling "meet the makers" exhibition, where various SME groups and organizations proudly displayed their products and services catered to small businesses.
This exhibition provided SMEs with a valuable opportunity to showcase their offerings and network with potential customers and partners.
Among the showcased products were a diverse range of locally made goods, including beauty products like Pearl Body Scrub and essential commodities such as sweet potato (kaukau) flour and Virgin Coconut Oil.
The exhibition also featured an abundant array of fresh produce, symbolizing the agricultural prowess and entrepreneurial drive of SMEs in Papua New Guinea.
The SME Breakfast and exhibition received support from the SME Corporation and the Department of Commerce and Industry, signifying the government's commitment to fostering the growth and success of SMEs in the country.
The presence of the Prime Minister and regional stakeholders emphasized the importance of SMEs in driving economic development, creating jobs, and improving livelihoods.
With SMEs being the backbone of PNG’s economy, events like the Annual SME Breakfast plays a crucial role in promoting entrepreneurship, facilitating networking opportunities, and raising awareness about the vibrant SME sector.
The government and various organizations continue to work together to provide support, resources, and mentorship programs to help SMEs thrive and contribute to the nation's prosperity.
At the event it was stressed that the success of SMEs not only benefits individual businesses but also stimulates economic growth, fosters innovation, and strengthens local communities throughout the nation.