Ways sought to help sector

THE PNG Stock Exchange (PNGX) is working with the small-to-medium enterprises (SMEs) sector to explore new avenues to train entrepreneurs and assist them to raise capital.
Responding to queries from The National, chairman David Lawrence said that it was specifically acknowledged in the Government’s “SME policy 2016”, that PNG SMEs have difficulties in accessing start-up capital or loans from established financial and lending institutions.
“The Government’s financial sector development strategy 2016-2030 also acknowledged that SMEs face obstacles to financing and are often perceived as high-risk by commercial lenders,” he said.
“This requires attention to identify ways in which unnecessary obstacles can be lessened.”
Lawrence added that to better understand how the PNGX could serve the equity capital needs of the SME sector, PNGX, along with PNG Digital ICT Cluster and PNG SME Magazine, conducted an online survey on the profile and capital needs of the SME sector.