Couple starts anew with StretPasin

 AS far as managing small business venture is concerned, Vetari Kaile could lay claim to some experience.
She and her husband Kila  were burnt once.
The Kailes had been part of the National Development Bank-sponsored StretPasin Stoa scheme in the 1980s and ’90s’ but were not quite successful.
Under the scheme, they operated their small business Yumi Trading in the Port Moresby suburb of Gerehu. 
However, facing tough competition from three new major supermarkets in the suburb In 1992, they were forced to close shop.
By then, they had K12,000 debt with the bank.
After losing the family investment in the mini supermarket, Kaile and Kila returned to their home village of Makerupu in Rigo district, Central.
“We had only K12,000 in management fees, so the government should have given us ownership of the shop, but we lost everything,” Kila recalled.
He said despite their business losses, they still believed the StretPasin Stoa scheme was a very good concept and should be supported by the government again.
A few days ago, Kaile was one very happy woman at the launch of the Makerupu Women’s Cooperative Society Ltd at their village.
With combined experience in managing trade store, the husband-and-wife team planned to help the cooperative society in small and medium enterprises, particularly farming and fishing.
As an example of what could be done, Vetari’s group used K500 to hire a tractor to plough the land and planted water melons.
From the harvest later, the cooperative raised K3,000.
Speaking at the launch attended by Community Development Minister Loujaya Kouza and her departmental staff, Kaile said women would strive to attain financial security through the cooperative society.