Business development officers attend SME training

A START and Improve Your Business (SYIB) training of trainers workshop started yesterday in Lae for business development officers from provincial, district and local level governments.
The two-week training conducted by the Small and Medium Enterprise Corporation (SMEC) includes two participants from Enga, 15 from Morobe and nine from Madang.
The training aims to build capacity and business development competencies so the officers can then train people in their own districts and provinces involved in SMEs.
SMEC managing director Petrus Ralda said 85 per cent of people are in the informal sector but lack the business skills.
“They may have the financial capacity, the aspirations, the land and its resources and the will power to engage in any micro SMEs but they lack the know how to actually make their businesses become a success,” Ralda said.
So far under this training of trainers workshop, 108 participants from the New Guinea Islands and the Highlands region have been trained over the last two months.
The training started yesterday for participants from Morobe, West Sepik and East Sepik.
The Government has provided funding through the commercial banks for people to access to engage in micro, small and medium enterprises, but it has to also address the affordability and accessibility to those monies. These are critical areas. However, it (Government) has addressed the affordability by reducing the interest rate and equity.”