Provincial govts urged to be ready


PROVINCIAL government business arms need be ready to consider investment opportunities if they (business opportunities) are viable, says Micro Small Medium Enterprise (MSME) Council president Des Yaninen.
He said this in response to some concerns raised as to why the Milne Bay government did not take the opportunity to acquire the former Alotau International Hotel now owned by local firm, Yumi Yet Real Estate Ltd.
Yaninen, who commended the owner and managing director of Yumi Yet Real Estate, Eke Lama, for buying the hotel said: “These opportunities are rare and you have to be ready for it.
“If your provincial government has a business arm then they should be able to consider the opportunity and if it is viable, seek the funding to enter into it.
“In this case, Lama was ready when the opportunity presented itself and he acquired the hotel.
“If East New Britain or West New Britain can set up development corporations for their provinces and enter into business then there is nothing stopping Milne Bay or any other province from doing the same,” he said.
“I commend Lama on acquiring the hotel.
“PNG SMEs (small-to-medium enterprises) must think big, aim high, but be willing to start small and work hard for a very long time before they achieve noticeable success.
“Lama started off with K190 and look where he is today,” Yaninen said.
“The message to SMEs is not to give up or get discouraged when things are difficult.
“Try to focus on your strengths and build a business around that. Our PNG SMEs must not be content operating tucker boxes, selling second hand clothing or operating taxis and PMVs.
“We must aim higher and work harder.
“BSP and Kina bank have excellent SME loan products available today.
“Go see them and apply for funding.
“Where there is a will there is a way.”