National Development Bank Investments will be giving a chance for lucky Papua New Guineans to own and run a business.
Through its Biz Box Promotional Competition, NDB Investments will be giving away a customized container for any business opportunities.
This is the first product under the Small Enterprise Business Incubation Program. Details of the competition will be commencing next week.
Present at the NDB Conference room were the successful Prospective Shop Managers under the Stret Pasin Business Scheme.
Also present were the board and management of National Development Bank and its’ subsidiary, NDBI.
They were happy to announce the successful candidates after almost 2 years of preparations and reviving the Stret Pasin Business Scheme which once operated in the early 1980’s as the Stret Pasin Stoa Scheme.
Although there was an overwhelming response in the number of applicants, only 10 were selected after passing all the criteria set by NDB Investments. Some of these included running checks on the applicants’ credit history with banks.
They also sat for examinations where the top two couples from the different regions, including NCD, were selected.
National Development Bank Investments will also conduct training for this lot on small businesses and will also support them throughout the life of the loan taken out to start the Stret Pasin Business Scheme.
They are expected to repay the establishing costs of the business after three years to fully own the businesses.
Once NDB Investment sets up the different Stret Pasin Businesses, they inform the couples who then officially resign from their respective jobs to run the shops. For now, they remain as Prospective Shop Managers.
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