Small to Medium Enterprises (SMEs)

Representatives from the Lae business community, including those from the Small and Medium Enterprises sector, had the opportunity to hear about the advantages provided to businesses on Alibaba, one of the world’s biggest platforms of e-commerce for business-to-business and business-to-consumer.

This allocation has already been passed and is now awaiting the Madang provincial accounts to open, enabling the people of Madang to access these funds.

This follows today’s business support grant launch in Lae by Business Link Pacific, in partnership with the Centre for Excellence in Financial Inclusion (CEFI) and the Lae Chamber of Commerce.

Business Link Pacific is a private sector development programme delivered by DT Global and funded by the New Zealand Ministry of Foreign Affairs and Trade.

The business support grants are designed to stimulate SME growth, innovation, access to finance and investment in social inclusion and climate action.

According to BSP, more than 200 SME loans have been acquired by SMEs throughout the country.

CEO Robin Fleming says assisting SMEs in the country is one of the major focuses for the bank.

“We’re very strong in helping SMEs. This is one of the board’s directives to management, to help the small Papua New Guineans, help them into business,” he said.

“We get questions from the board about SMEs. What are we doing? How are we promoting young Papua New Guineans? How are we promoting businesses?”