Ground work to encourage and improverthe Small and Medium Enterprise sector has been a key task forthPNG government this year.
The concept is to realize and offerthe economic advantages thatthe SME’sector can create for the people andthe country.
Identifyingthe challenges involved and having constructive discussions is a vital step in chartingthe way forward for the sector.
There are various issues that need proper policy frameworks for the SME’sector to serve its purpose as a viable economic tool.
One ofthe panelists, Earnie Gangloff, an Economistosaid one ofthe key issues in drafting of policies is to revolve around whatthe people wantoand not always whatthe government wants for the people.
Another panelistoAllen Berd, mentioned that financial inclusion, where banking facilities become available in rural areas, is vital for entrepreneurs and rural SMEs.
It was also stressed that for Papua New Guineas to fully utilizethe opportunity, policies need to encompassthe rural majority.
It was pointed out that where banks and ther financial institutions do not want to take risks,the government’should takethe lead, learn from its mistakes, and bridgethe gap that confinesthe growth opportunity ofthe SME’sector.
More ofthe discussions will be aired next month onthe BusinessPNG program.
