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Business Advisory & Capacity Building
Entrepreneurship training and Capacity Building for potential, aspiring and existing MSMEs is one of the key priorities stipulated in the MSME Policy and MSME MTDP 2022-2026 (NEC Decision No: 27/2022). The lack of business knowledge, skills and attitude with lacking entrepreneurship mindset to indulge in the MSME sector by citizens are enormous challenges and to mitigate these challenges and move the sector forward.
There are three (3) training programs that MSMEs have benefited from over the years.Â
Start & Improve Your Business (SIYB) Training Program
It is an ILO (International Labour Organization) Program that was introduced into PNG in 1996 and housed in SME Corporation ( the then Small Business Development Corporation). It is a skills training package for small scale business owners and managers and is implemented in over 130 countries.
The three different training under the SIYB Program include:
i)Start Your Business (SYB) helps you develop a good business idea and plan.
ii)Improve Your Business (IYB) management training for owners and managers for small business
iii)SYB Correspondence Program, a certificate course similar to (ii) done through distance/flexible learning mode, targeting youth, women, potential entrepreneurs, working class and those who are unable to attend the full 10 days SYB training.
Know About Business (KAB) Program
SME Corporation offers another program called 'Know About Business (KAB)'. Know About Business is a classroom-based entrepreneurship program taught i Technical and Vocational Training Institutions including secondary schools.The Corporation in its aim to institutionalize the KAB Program into PNG education system. It recently developed the Know About Business in Fisheries (KABF) training curriculum in partnership with Department of Education and National Fisheries Authority (NFA)The partners launched the Know About Business in Fisheries training curriculum and signed a tripartite MOU on 17th February 2022 in Port Moresby.A five year Implementation Strategy 2022-2026 was developed and the curriculum will be implemented in 50 selected and technical secondary schools from 2023 onwards
Garmet and Textile Training Program (GTTP)
The third program is the Garment and Textile Training Program (GTTP) which was transferred from the Department of Commerce and Industry to SME Corporation 2012. This life skills training program is to train women and girls to start businesses in the garment and textile industry.The business is changing and SME Corporation is constantly reviewing the programs to ensure that our training programs are relevant and address the needs and demands of the MSME sector.
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Frequently Asked Questions
SME Corporation is a government Agency under the Ministry of Commerce and Industry and responsible for the MSME growth and development in Papua New Guinea (PNG) through various programs and projects.
There are two methods SME Entrepreneurship training is delivered.
- Flexible mode,
- Cluster groups;
- out of school to general MSMEs in an organized group.
- in school delivers to TVET and secondary schools.
To take part in the training provided by SME Corporation write to SME Corporation and express interest or enquire for more information.
To take part in the training provided by SME Corporation write to SME Corporation and express interest or enquire for more information
The K200 million SME funds funded by government, K100 million was given to BSP and K80 million was given to NDB.
BSP services its existing SMEs whilst NDB disburse loans to both existing and start-ups. All MSMEs are encouraged to enquire at BSP and NDB for more information.
The difference between Business Name (BN) and Company is that Business Name is a Sole Proprietor (Individual). It is simple to start, less expensive and more suitable for micro businesses. A BN is selected when carrying on a business under a name, no legal entity is created and there is no limitation on liability.
The Company Name is selected upon incorporation and creates a special legal entity, distinct from its owners.
Business Registration is done at Investment Promotion Authority (IPA)
After IPA registration, then register TIN with Internal Revenue Commission (IRC)
