SME Master Policy

LOCALISED the SME Master Policy 2016-2030, the National Government under the former regime of the O’Neill Government introduced the SME Policy Plan which sets out ambitious deliverable goals such as registering 500,000 SMEs by the year 2030.
However, while calling for local stakeholders to form allegiance and network to support this policy initiative, the apparent failure is the policy lacks a localised model that captures and addresses all the development challenges experienced at the local level right up to the national level.
There is no enabling legislations that supports the policy.
Hence the recommendations of the policy remains wishful thinking until there is commitment of will and enforcement.
There is also no support and function of the national government felt at the rural level to implement or support the policy.
The national government needs to set up SME incubation centres at the rural districts. At the provincial level, SME Secretariat needs to be established.
These offices need to report to a National SME Development Governing Body.
The body must be established by an act of parliament.
The future growth and development of this nation lies in the growth of SMEs. Building local
capacities and giving more opportunities to local SMEs to become partners in major developments around the country, provides more employment opportunity and increase cash flow in the local economy.
PNG has lost hundreds of millions of kina away from circulation in the local economy due to contracts, business and engagements done to foreign companies!
You do not need to be a rocket scientist to understand this simple economic analogy.
When there’s more money in the local economy, it creates more local investment opportunities and increases the demand and supply for production of more goods and services.
In retro-effect, more employment is created when demand for production level increases.
All these at the end of the day produces better overall GDP growth rates.
The current government under the new Prime Minister James Marape needs to consider creating enabling environment and legislations to support a robust growth of SMEs in the country.
We don’t need to go overseas to countries like India or other countries and replicate their models.
It’s irrelevant.
We know our own way of life and systems.
We have the know-hows here.
We don’t need super consultants.
We can do it ourselves.
We can develop ourselves and charter in a new era of development for us and our future generation.

Gabriel Kotona ,
SME Nationalist