Business News

NDBI Launches Young Enterprise Scheme

by Mickey Kavera – EM TV, Port Moresby

The National Development Bank’s subsidiary, NDB Investment, under the Stret Pasin Incubation Program has officially launched the Young Enterprise Scheme (YES).

YES is a youth entrepreneurial development program that features small business training, loan funding and coaching over a 24 month period, targeting people between the ages of 18 to 30 years.

Speaking at the launch this morning at the Port Moresby National High school, NDBI Chairman Moses Liu said the program will kick off in Port Moresby for 150 young people followed by other centres in 2015.

“The aim of the program is to give youth who are currently unemployed or unable to get into tertiary institutions the opportunity to participate in our economy and be self-employed by setting up and running their own businesses,” Mr Liu said.

He added that YES will feature three training sessions and three assessment periods over 20 months where top performance in managing their businesses will qualify them for higher funding.

“All training will be provided by certified trainers from the Small Business Development Corporate (SBDC) and the National Youth Commission (NYC),” Mr Liu said.

He further said that for the first 150 candidates, initial training will commence on the 26th of November to the 9th of December, which will be in International Labour Organisation certified courses administered by the Small Business Development Corporation; ‘Generate Your Business Idea’.

“Concurrently, the NYC will also provide personal development and motivational successions through its Self-Management Clinic program,” Mr Liu said.

YES is a local program developed by NDBI and endorsed by the National Youth Commission, the Department of Trade, Commerce and Industry and SPDC.

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