Lack of skills hinders growth

By BERRY DINGHAN
A LACK of basic business and entrepreneurial skills is hindering the growth of small businesses in the country which could otherwise contribute to a prosperous economy, a businesswoman says.
Beryl Bill from Tufi in Northern said small businesses went bankrupt because the owners lacked good business skills and knowledge which could help them maintain their operations and improve their earnings.
Bill had successfully operated a screen printing business last year, printing various art designs on shirts, laplaps, blouses, hats, trousers and other apparel and had experienced good returns of over a K1,000 fortnightly.
But her business broke down because she had not saved money for the business nor planned for its growth.
“I did not have further plans for savings, reinvesting capital including venturing into other business opportunities,” she said.
“I thought it was just another form of income to support the family and commitments.”
Bill, who was among 23 who received certificates on Friday after a month-long business and entrepreneurship skills training facilitated by City Mission in Port Moresby, said the training had boosted their morale, abilities and knowledge to venture into business activities.
The 49-year-old said she would restart her screen printing business and implement what she had learned from the course and be aware of the pitfalls of owning and managing a business.
The participants thanked trainer Joe Hanume and City Mission for the training.