More financial literacy training needed in wards: Trainer

Business

THE demand for more financial literacy training is required in the wards with the increasing number of small to medium enterprises (SMEs) in East New Britain, a trainer says.
Like other approved and recognised SME stakeholders providing basic financial literacy training in the province, the PNG SME Directory is running a two-day training in Kokopo to more than 50 participants.
PNG SME Directory is a private SME training provider operating since 2008.
It offers business packages such as helping SMEs to register businesses, obtaining their TIN (taxpayer identification number) certificates, opening SME accounts and other basic business services.
PNG SME Directory manager Linda Roth saidthere was an increase in demand for SME owners to undergo financial literacy training as a requirement to access government funding.
Roth said the company was asked to run the training by its clients in Kokopo.
She said this was the second such training they conducted.
“Our schedule is that we have to reach out to all our clients in the nation so that is what we are doing is covering four modules,” she said.
The trainers are certified trainers from the Bank of PNG and the MSME Council and the modules are on introduction to financial literacy, savings, personal finance management and financial services.
Roth said the directory hoped to encourage participants to be better managers and small business owners before applying for loans.