Agency funds credit scheme for graduates

THE Small Medium Enterprise Corporation (SMEC) has funded K100,000 as a credit guarantee scheme for recent graduates of its garment and textile training programme, chairman Michael Mell says.
Mell told The National that this came at the back of the challenge identified, which was seed capital in starting their own small businesses after completing the training programme.
“Over the last seven years we have trained young men and women on how to make their own clothes and how to design their own clothing,” he said.
“Many of those we train are young people, they don’t have seed capital to start their own business.
“So they go out and work for other people.”
Mell said the garment and textile business was a multi-billion dollar industry that they wanted Papua New Guineans to tap into.
He said apart from food and accommodation, clothing also had a big market in any economy.
“We want our people to participate in that multi-billion dollar industry,” Mell said.
The SMEC made an announcement during the programme’s 35th graduation last December to fund K100,000 for a credit guarantee scheme for the 30 graduates to start their own SMEs.