Entrepreneurs encouraged to use online registry system

THE Investment Promotion Authority (IPA) has encouraged small to medium business owners to use the online registry system as it is an efficient way of doing business.
Managing director Clarence Hoot told participants at the Startup PNG Convention in Port Moresby on Tuesday.
“It’s cheaper in the sense that it costs K200 to do a business name, but if you do it online, you will only pay K150,” he said. “In terms of company, if you want to register your company, if you come with physical forms to the office and it will cost you K600.
“If you do it online, you can pay K450.
“And the turnaround time too is faster because it goes straight into the system and it gets allocated to an officer to deal with.
“There is a minimum of a 10-day turnaround time, within 10 days if no response comes to you, the officer whom your application was allocated to will get an alert, that his job is overdue.”
Hoot said there were three types of users:

• Casual user: those who could go onto the IPA website and do researches on companies, business names or associations and can download necessities of any entities you were researching on, however, a casual user is not able to lodge any document online;
• Registered user: those who are able to lodge any document online; and,
• Authorised user: those who have a company or business and wants someone to act on your behalf, can grant authority to that person to lodge your documents.

“I encourage you all to use the online registry system, as it is easier, cheaper and faster way of doing business.”