IBBM promoting local businesses

The National Business

By JACKLYN SIRIAS
IN an effort to recognise and promote local businesses, the Institute of Banking and Business Management (IBBM) gives leadership awards to well performing businesses every two years.
Executive director Johnson Pundari said since 2010, the IBBM enterprise centre had worked with ExxonMobil Papua New Guinea and conducted business assessments in more than 500 companies.
“This assessment is an evaluation of the capacities and capabilities of local businesses that are based on eight business standards,” Pundari said.
The eight companies that received the SME leadership awards as per the business standards were Hahebou Construction Limited (governance and organisation), KJT Consultants (inventory control), NARES Engineers Ltd (business management),  Pearl Customs Clearance Agency (financial management), JKB Construction Limited (human resource management) IM Associates (quality control), Mako Pest Control (health safety and environment) and RADHO Piggery Limited (reputation and image).
He said this year, they gave 12 awards to businesses which had fulfilled the requirements of the assessments they performed in 2016 and 2017.
They included the four special awards on best women-owned small business – won by Mary Elzs of Orchid InBloom, most improved small business  – won by Tanata At Works Ltd, runner-up top performing small business – Hahebou Construction Ltd and overall best performing small business – won by NARES Engineers Limited.
“All these were selected by a panel of judges based on the highest score received by each company in respective categories during the assessment process.”
Pundari said the businesses were owned and operated by local people.
He said the purpose of the exercise was to help local businesses in developing improvement plans and recommendations to assist the growth of their businesses.
United Nations resident coordinator for PNG Roy Trivedy said business, as in life, needed continuous improvements.
IBBM also launched its business magazine which promoted local businesses.