Most businesses fail in first 5 years: Centre

 WORLDWIDE statistics indicate that 90 per cent of all new businesses failed within the first five years, according to the Entrepreneur Development Training Centre (EDTC). 

EDTC believes the cause of the failure was that not lack of funds, management or effort but the lack of personal viability.

EDTC boss and founder of Stret Pasin Store Scheme and founder of the Personal Viability Business Scheme (PVBS) Dr Samuel Tam Snr said: “Traditionally we invest considerable sums of money in the preparation of business plans and neglect investing time and money in the preparation of the person who is to develop the business.

“This is where Personal Viability Business Scheme comes in. 

“EDTC offers PVBS course trainings from level 1 to level 7 to holistically prepare a person through coaching to become successful entrepreneurs. In other words, to become self-reliant and financially independent.

“PVBS training educates people to think holistically – mentally, physically, spiritually and financially. 

“There is no education entry level. We have trained thousands of people, from those with no formal education to master’s degree holders. There is also no age barrier – we have trained people from the age of nine to 90 years old.

“The programme promotes PNG cultures, talents and values and assists in marketing, distribution, supervision, technology and management.

“PVBS prepares and empowers people for self-employment and self-independence.”