Lack of funding slows SME operations: Mel

THE Small and Medium Enterprises Corporation says the lack of financial assistance by the government in the past year had affected its task of empowering citizens to participation in economic activities.
Board chairman Michael Mel said, during the launching of the SMEC logo and website in Port Moresby, that the economic situation faced by the country in the past two years had prevented the government from keeping its promise of financial assistance.
Mel said the cooperation would make a submission to the National Executive Council to get funding from donors to create a lending mechanism for small to medium entrepreneurs to start their businesses.
Mel said there were opportunities for business but the lack of finance and assistance was hindering the people.
Mel said people seeking assistance from the SMEC must be genuine and result-driven.
The SMEC wants to provide a wider range of services such as access to credit, business infrastructure, provision of mentoring, coaching and management skills.