Lack of information hinders businesses

 LACK of knowledge has stopped people from engaging in small to medium enterprise activities, according to a SME trainer-educator.

Endo Guaf, a trainer-educator in horticulture and landscape gardening, said many women lacked the knowledge and skills to undertake small business activities.

She said this at a SME training workshop conducted by Koyeh Management and Research Consultants in Lae. 

The four-day workshop discussed the importance of the SME sector in Papua New Guinea, how to start a small business and how to register a business with the Investment Promotion authority. 

The workshop is being held at the Salvation Army conference centre at Eriku, Lae.

Guaf said with primary schools having “Making a Living” as one of their subjects, SME should be included in the school curriculum. 

She added that a large number of students were not going to higher institutions and such a programme would assist them.

Koyeh managing director and facilitator Philip Lomai said the workshop was about disseminating information to those who wanted to start businesses by getting information to help them.

He said banks had collaborated with IPA and the Internal Revenue Commission (IRC) to assist the SME sector.

“And for one to start a company or business with IPA it is not manageable, they cannot open an account, they need to go to IRC and fill an application and get a tax identification number (TIN),” Lomai said.

He said TIN 1 was for the company and TIN 2 is for the business that needed to be filled out and sent to Port Moresby. 

“When the TIN certificate is given, it must be put in together with the IPA certificate to have an account open with the bank,” Lomai said

He urged the Government to assist in sponsoring the programme, which would enable them to facilitate additional workshops around the Lae city.