Business concept boosts SMEs

MORE than 15 small businesses have been set up at the Stret Pasin Business Incubation Centre at Hohola in Port Moresby.
National Development Bank managing director Moses Liu said the bank’s initiative was new to the country and aimed to build the capacity of small to medium enterprises.
“The business incubation centre is a new concept to Papua New Guinea,” Liu said.
“Elsewhere in the world, you have business incubation centres for small businesses in the micro sector who want to engage in business.
“The Business Incubation Centre’s expansion to other centres in the country depends on government funding.
“Currently we are looking at putting up the two business incubation centre – one here and one in Goroka.
“We are intending to roll out to other main centres in the country.
“The incubation centre is one of the innovative products that the National Development Bank is giving out for the benefit of our people to be engaged in small businesses.”