MINISTER for Commerce and Industry Henry Jons Amuli says the K200 million funding made available by the Government must be seen to support small businesses and startups in the country.He the statement while making a surprise visit to the Unity Mall in Port Moresby, where a number of women-owned SMEs were operating.
He made the visit to hear from the SME operators, especially mothers on their views and concerns regarding the Government’s SME intervention programme.One of the SME operators, Pauline Bogombari, the owner of Aunty Pops Chicken and Egg said the funding made available by the government through the bank is not accessible by the simple businesses like hers.Similar sentiments were expressed by others. They said the current arrangements of parking K200m at the banks is not helping small SME owners as the banks have strict loan requirements which makes them difficult to access funds. “What I am suggesting is for government to assess existing SMEs through a search with the IPA, IRC and the banks and see our financial records and those who have good records to be given funding support directly,” Bogombari said.
“We can then acquit the funds and as well, repay in terms of loans.”She commended Amuli for taking his time to make a surprise visit to hear first-hand how the government SME program is benefiting small businesses in the country or not.Amuli agreed with the SME operators that access to funding by the small SMEs and new start-ups from what is provided by the government is an issue that must be addressed.He said the government is now including Mama Bank into the programme, with the allocation of K30m funding to assist women SME operators access to loans.Amuli said an assessment will be done on the government SME programme to improve on it going forward.