Entrepreneurship urged

THERE is a lack in entrepreneurial skills in Papua New Guinea, particularly in innovation, business startups, ownership, and self-employment, says an official.
Micro, Small and Medium Enterprise Council (MSMEC) founder James Gore said the absence of an entrepreneurship syllabus in secondary school and tertiary education system was a barrier to economic progress and prosperity.
He said high unemployment in the formal sector was a challenge.
“Entrepreneurship, in its essence, is the process of identifying opportunities, taking calculated risks, and organising resources to create value in the form of new products, services, or businesses to address a need that has potential for commercialisation,” he said.
“It encourages individuals to think creatively, act decisively, and embrace challenges as opportunities for growth and innovation.
“Entrepreneurship education equips individuals with the knowledge, skills, and mindset to navigate the complexities of the modern business landscape.
“By fostering entrepreneurial competencies such as critical thinking, problem solving, communication, and resilience, we empower our youth to become job creators rather than job seekers.”
He added that promoting entrepreneurship in PNG was important. “By nurturing a culture of innovation and enterprise, we can drive economic growth, create employment opportunities, and foster sustainable development across all sectors of society,” he said.
“Entrepreneurship empowers individuals to harness their potential, pursue their passions, and contribute meaningfully to the social and economic fabric of our nation.
“It is imperative that we prioritise the integration of entrepreneurship education into the curriculum of secondary and tertiary educational institutions to cultivate a new generation of visionary leaders, innovative thinkers, and successful entrepreneurs.”