Smec’s Ralda says 85pc of Papua New Guineans are not business literate

AROUND 85 per cent of the people in the country are not business-literate, says Small-Medium Enterprises Corporation (Smec) managing director Petrus Ralda.
He said although they had been conducting business training for more than 26 years, it was hampered by the lack of government funding.
He said the Government in 2019 started assisting small businesses by providing funds through the National Development Bank and the Bank South Pacific Financial Group Ltd.
“That made the training become popular with more people showing interest in the trainings,” Ralda said.
He said even students coming out of secondary schools and universities found it difficult to start a business.
“This is because the country’s education systems were not designed to encourage innovation and creativity,” he said.
Ralda said many Papua New Guineans could only mend but not create and innovate things.
“This has to change. We must use our God-given knowledge and wisdom to be creative and avoid being too dependent on Westerners,” he said.
“Training modules (used by the Smec) were designed and developed specifically for developing economies such as Papua New Guinea, and was introduced in the country since 1996.
“The certificates issued at the end of the programme are internationally recognised,” he added.
He said the Smec would build the entrepreneurship culture in the country.
“It’s always been the top-to-bottom approach,” he said.