NDB plans to open business centre

THE National Development Bank in conjunction with the National Capital District Commission will launch a business incubation centre in Port Moresby to promote small to medium enterprises.
Bank managing director Moses Liu said the centre was a new concept the bank was embarking on to help grassroots people who wanted to venture into SMEs.
Liu said the bank proposed to help ordinary people who lacked business skills to undergo training at the business centre.
The centre at Hibiscus Street in Hohola is divided into allotments or cottages.
The first 40 applicants would lease the space at a minimal fee from 12 to 24 months to sell their products.
While at the centre, they will receive business training organised by NDB.
“We will try out the new concept to help those who have no business skills but are interested in starting small businesses,” he said.
“The allotments will be given to 40 interested members of the public to sell food, clothing and artefacts,” Liu said.
He described the concept as a first of its kind therefore has invited the National Capital District Commission to come on board to partner NDB on this project through subsidising the rental fees for the people.
Liu was accompanied by the NCD Governor Powes Parkop, NCDC Youth Desk coordinator Rex Buka and the Chief Executive Officer of NDB Desmond Yaninen to inspect the facility last week.