Entrepreneur hopes to get clients at business convention

Business

LG DEBT Recovery Services based in East New Britain aims to help businesses grow and become profitable.
Managing director Leo Gawi said the company hoped to secure at least 20 clients during the Start-Up Convention 2019 being held in Port Moresby.
Gawi said this year, the company recovered K2.5 million in assets for a client in ENB.
“I came up with the idea in 2014, after being in the workforce for someone else,” he said.
“In my field in accounts, I developed the idea and registered my company in 2014.
“Unfortunately it did not come into operation until just this year.”
Gawi said this year, a company in ENB said they were looking for a debt recovery agent.
That was when he started sending expression of interests to organisations to conduct recovery operations.
“We got feedback and saw debt recovery in big demand that was where we started doing it,” he said.
Gawi and his wife Alice travelled to Port Moresby to be at the convention.
“We had clients that have debts from tens of thousands to exceeding K100,000. The largest was K2.1 million.
“We engaged a lawyer, we operate legally. Our process is that we go out and give 14-day notices to default clients, or defaulters.
“After 14 days and they do not show up, we get our lawyers to go in and we represent the client in court. So the last resort is to take the court ruling. For the debts, we go and repossess and sell off the amount.”
Gawi said most businesses concentrated on generating revenue and sometimes forgot about debt recovery.
“They just continue on to make money. So that is where we come in. We help them to do the running around and get the money that is owed to them.
“We do the hard work for them,” he said.

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