"Growing MSMEs Is Growing PNG!"
Partners & Stakeholders
Our Partners & Stakeholders in Nation Building through MSME development.
Together we can impact MSME sector
Our Partners in MSME Growth & Development
Highlights
Partnership is key for sharing limited resources to maximize outputs.
Investment Promotion Autority
Responsible for registration of Business, Company, Association, and more.
Internal Revenue Commision
Responsible for registration of TIN, COC, etc and Corporate, Salary/Wage, & GST Taxes.
National Development Bank
Responsible for funding/financing MSMEs and SMEs base on requirements.
Together we can impact MSME sector
Partnership & Promotional Programs for MSME Development
Highlights
Partnership is key for sharing limited resources to maximize outputs.
SME Breakfast With Prime Minister
SME Breakfast is an annual forum that aims to engage the Prime Minister with the
private sector regarding the MSME sector in PNG. The event, endorsed by SME Corporation, brings together various stakeholders such as development agencies, NGOs, foreign governments, and government agencies to discuss how to address issues within the MSME sector. The PM uses this platform to affirm the government’s focus and direction for the sector.
The 2023 SME Breakfast focused on the Tourism industry and Manus Province, highlighting SMEs from the Koairi-Hiri electorate and New Ireland. During the event, the Hon. Prime Minister pledged K1 million towards business incubation plans for Manus Province. Each year, the event revolves around a specific theme; the previous year’s theme was the Agriculture and Tourism Sector. It provided a valuable opportunity for MSMEs from Manus, New Ireland, and the Hiri Kioari District to showcase their offerings and growth potential. The selection of MSME participants in the 2023 event will influence
the direction of the 2024 event.
SME Awards
SME Award is one of the MSME sector programs that has been delivered once a year since 2021, to recognize and promote formal and hardworking, successful, and productive MSMEs from various sectors and industries that meet the criteria under 18
categories including the winner, 1st runner-up, and 2nd runner up. These different
award categories were sponsored by various organizations, both private and public, in PNG. SME Corporation was the inaugural sponsor of the 2nd runner-up with K10,000. The funding commitment is the same for every year, but in 2024, SME Corporation plans to increase the sponsorship package to cover other categories that are left out. SME Corporation provided a speech for both the Prime Minister and the Minister for
Commerce and Industry.
The SME Award provided an avenue for interactive discussions with key stakeholders, partners, and government agencies, on the progress of the MSME sector, in terms of the impact of current MSME sector programs, and areas for improvement.
Local Engagement
Partnership is key for sharing limited resources to maximize outputs. The partnership will result in both short and long-term impacts in terms of entrepreneurship culture building, prudent management oi resources, employment generation, and rural livelihoods for the bulk of the population. SME Corporation’s primary development mandate is to foster the growth of MSMEs across all sectors and industries in PNG. This includes the cottage industries, small-scale manufacturing, and the adoption of appropriate technologies along with the transfer of technical skills amongst others. SME Corporation provides technical and, to a limited extent, financial support to individuals or communities engaging in MSME activities that show higher potential to diversify the country’s economic base. These endeavours aim to establish pioneering industries capable of sustaining and bolstering PNG’s economy in the years ahead. Furthermore, such industries have the potential to promote domestic production and decrease our dependency on import.
Together we can impact MSME sector
Mous & MoAs with Stakeholders
Highlights
Partnership is key for sharing limited resources to maximize outputs.
Memorandum of Agreement
Between Jiwak Provincial Government and SME Corporation for the joint development of Highlands Regional MSMEBusiness Incubation Centre in Minj, Jiwaka Province
Memorandum of Understanding
Between West New Britian Provincial Government and SME Corporation for the Joint Commissioning and Management of NGI Business Incubation Centre in Kimbe WNP.
Momerandum of Understanding
Between SME Corporation and Save the Children to develop youth entrepreneuship development programs to encourage and support youth venture into MSME sector
Memorandum of Understanding
CUFA Limited and SME Corporation for partnering and collaborating on economic development projects and/or business development and relating to supporting micro, small and medium
Memorandum of Understanding
Between SME Corporation and Tambul Nebilyer District Development Authority and the office of the member for Tambul-Nebilyer District
Momerandum of Understanding
Between SME Corporation and Reformation Ministries and Churches Network Inc for SME development through the delivery of training and capacity building for Church Leaders and Members
Memorandum of Understanding
Between SME Corporation and National Youth Development Authority of Papua New Guinea to promote and empower youth entrepreneurial development in PNG
Momerandum of Understanding
Between SME Corporation and Imbonggu District Development Authority on delivery of Entrepreneuship Training and the provision of business development services
Momerandum of Understanding
Upcoming MOU or/and MOA
Learn more
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)