Engage firms to manage SME fund

THE State allocation of K200 million grants per year for SME should be managed similar to Australia’s Entrepreneurs Programme targeted at improving small business.
In 2019, the Australian Minister for Industry, Science and Technology, Karen Andrews MP, announced that eight Australian businesses have been offered accelerating commercialisation grants under the 2019 entrepreneurs’ programme.
The programme is the Australian Government’s initiative to improve business competitiveness and productivity.
It uses experienced advisers and facilitators, drawn from industry, to ensure businesses get the advice and support needed to improve their competitiveness, productivity and to seek growth opportunities.
The PNG Government should engage services of local accounting and business consulting firms to manage the K200 million small business grants.
Proper control systems and reporting are mandatory qualifications for businesses to access grant funds.

John Samar