"Growing MSMEs is Growing PNG!"
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SME Corporation, an Agency under the Ministry of Commerce & Industry.
Vision
Growing MSMEs is Growing Papu`a New Guinea (PNG)
Mision
To make the MSME sector to be the growth driver to increase national revenue, create employment, empower local entrepreneurs, and contribute to improving quality of lives of the citizens.
Objectives
The Objectives of the MSME policy are to:
(a) support and facilitate the growth and development of MSMEs across all sectors of the economy
(b) increase employment opportunities to cater for the burgeoning young population
(c) to enhance fair participation in the formal economy by the citizens alongside FDIs and
(d) create wealth and prosperity for the benefit and betterment of every citizen
THE EXECUTIVE MANAGEMENT
THE FUNCTIONS OF EACH DIVISION IN BRIEF
The Executive Unit
The Office of the Managing Director is supported by the legal Unit, the Internal Audit, Public Relations and Marketing, and Executive Secretary. The Executive team manages SME Corporation’s external affairs, corporate image, legal matters, strategic planning and secretarial function for the CEO and the Board.
The Corporate Affairs (CAD)
The Corporate Affairs Division’s key functions are Human Resource Management and Development; Finance and Accounts; general administration and operations; and ICT services. It supports the functional divisions in undertaking and ensuring effective delivery of …
our key programs, projects, and activities that support and contribute to the development of the MSME sector and the overall development.
Program Coordination, Monitoring & Evaluation (PCME)
The Policy Coordination Division is responsible for program research and development, Monitoring & Evaluation, MSME data management, strategic planning, sector policy and legislative review and development, …
documentation for statutory compliance, and external stakeholder policy dialogue, advocacy and engagements.
SME Growth & Development (SMEGD)
SME Growth and Development Division is responsible for developing the ecosystems for MSMEs to thrive and grow. Its initial role used to center around the Financial Incentive Scheme program or Small Business Credit Guarantee Scheme which was aimed at addressing…
 access to finance constraint faced by SMEs. The Division is now mainly responsible for the business incubation program in PNG.
Business Advisory & Capacity Building (BACB)
Business Advisory and Capacity Building Division is responsible for Entrepreneurial Training and Capacity Building for MSMEs in PNG. It conducts the administration, coordination, management and facilitation of entrepreneurship training programs including …
specialized business skills development training including garment and textile development trainings. The Division carries out the foregoing functions in collaboration and partnership with other key stakeholders and partners.
Small Industry Centre (SIC)
SIC became a division of Small Business Development Corporation in 2008 after internal restructuring within the Ministry of Commerce and Industry. It was initially established to provide Life Skills Training through Hands-On Skills …
Training in Leather Craft, Procurement, Sales and Marketing, Accounting and Book-Keeping and Office Administration, among other project specific hands-on skills training. SIC focuses on contributing to artisanal and small-scale production of leather goods.
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.
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)
