MSME

SME Finance Finder Launched

Business Link Pacific (BLP) in partnership with the Centre for Excellence in Financial Inclusion (CEFI) yesterday launched the Finance Finder online tool.

BLP is a private sector development programme funded by the New Zealand Ministry of Foreign Affairs and Trade, a New Zealand Aid Programme initiative honouring New Zealand’s commitment to supporting the economic growth of Pacific Island countries.

Govt urged to empower MSME

He said providing SME funding to National Development Bank and Bank South Pacific under the Stimulus Package falls short of what the MSME sector really needs to fuel its growth and expansion.  Provision of cheaper and accessible loans is not sufficient for overall MSME sector growth.  

Two critical SME sector interventions PNG needs are:

SME Helps Youth

Being the president of the PNG MSME Council, he has been the voice advocating the development of SME in PNG for over a decade now.

Having begun his career in finance in 2005 and in years after that has built a field of knowledge in how better to assist individuals in the SME sector.

He said every successful financial strategy starts with an excellent client relationship.

Hard times for businesswomen

Three weeks after the lockdown was lifted, business owners across the country continue to feel the effects of the covid-19 pandemic.

Women in SME who own stalls at the business center under the Pacifica Women’s Network, have called on the government to help subsidize their rental fees under the K5.6 billion stimulus package.

The Micro, Small & Medium Enterprises sector was promised K250 million.

Since the lockdown was lifted, the business center has not received as many customers as it used to. This has forced many to close down their business.

MSME Council Support

Restrictions necessary for the safety of all citizens but nonetheless affecting major businesses down to informal sector stalls and the livelihoods of many.

The majority of Papua New Guineans are resilient by nature and part of the middle bracket, Micro-Small-Medium Enterprises or MSME’s but tough times are affecting everyone.