Business News

Maru: Government Should Start Funding SMEs


by Bethanie Harriman – EM TV, Lae

Trade, Commerce and Industry Minister, Richard Maru, said the government should stop talking about Small to Medium Enterprises and start funding them.

It comes as more Papua New Guinean’s begin to operate their businesses, but with the lack of financial support.

Minister Maru said the government should invest more money into creating 50,000 businesses a year.

“The people want to make business, but I think the government needs to be funding more,” said Minister Maru.

He said this at a yesterday’s SME community show in Lae’s tent City suburb, promoting small to medium enterprises developed by Papua New Guineans.

“If we are going to start up fifty thousand companies per year, we (government) need to do more.”

The general sentiment amongst most Papua New Guinean Businessmen and women, like florists and those in the poultry business, is more government support is needed.

The government of countries like Malaysia allocates nineteen billion dollars a year into developing SME’s, while Papua New Guinea puts K100 million.

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