Business News

Business Management Skills Lacking

By Edwin Fidelis – EM TV, Lae

The PNG Investment Promotion Authority says there has to be more effort put into encouraging Papua New Guineans create businesses that lasts.

The authority says business prospects created by ordinary Papua New Guineans fail because of the lack of management skills to run the business.

While PNG’S economy looks promising, the IPA says ordinary Papua New Guineans have to grow with it.

The authority says, relevant stakeholders must carry out awareness to encourage Papua New Guineans created business and participate meaningfully in it.

While the government eyes bigger foreign businesses, it has also taken into consideration the issues facing ordinary people.

The government through its trade, commerce and industry department introduced the Small to Medium Enterprises sector or SME. It targets ordinary Papua New Guineans who don’t have paid jobs to create their own businesses.

But what’s worrying has been the skills and knowledge that are lacking to run the business.

In Lae, the wharf has been extended, the roads have been upgraded, and businesses are growing unlike before. While businesses are poised to expand, the Morobe Provincial Government also wants to make sure that there is equal participation.

In this interview last week, the Morobe governor challenged Morobeans to participate in the economic boom in Lae.

While there is new confidence in business growth, the PNG Investment Promotion Authority says there has to be more focus given to Papua New Guineans, so that they build their own businesses to last.

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