SMEs not clearly defined, claim local entrepreneurs

Business, Normal

The National, Monday July 8th, 2013


THERE is no clear definition of small-to-medium enterprises (SMEs), Esee consultant Esther Igo says.

She told The National in Madang recently there was a need to confirm what SME meant to identify and distribute business activities among PNG citizens. 

Currently, nationals own only 10% of business activities in the country.

Igo said: “The SME sector is about creating jobs and reducing unemployment in the country.

“At the moment, there is a current list in progress but there are no solid major industries being set aside for Papua New Guineans. 

“The National Executive Council (NEC) has given the approval for a review of the reserve list of business activities for Papua New Guineans.”

Igo said the objective was to see what business activities should be reserved for the citizens.

“At the moment, Papua New Guineans are restricted to cottage industry activities like weaving, making bilums, painting, carving … these are not real business … people need to get involved in major industries to help boost the country’s economy.

“They need to own tucker shops, haus kais, which are currently not on the list but they will be.

Igo said they do not know what business activities fall under SMEs.