SMEs in Mandan community receive K40,000 from SME Corporation
Two SME groups from Jiwaka province have received a total of K40, 000 as seed capital to start their own business.
This assistance was given by the Small to Medium Enterprise [SME] Corporation under its Start & Improve Your Business program.
These recipients were, the Waghi One Community Association and Anglimp Sweet Potato Farmer from Mandan Community in the Anglimp South Waghi District has received K20,000. 00 each.
From this start-up capital, the Anglimp Sweet Potato Farmers Association received K16,700. 00 via their MiBank account while the other K4,300 was used to purchase their Casava Miller machine and standby generator.
This assistance was given following the successful completion of the International Labour Organization or ILO’s Start Your Business Entrepreneurship Training facilitated by SME Corporation with both groups attending earlier this year and last year.
The SME Corporation Country Director, Petrus Ralda made the presentation, on Thursday [17th, July] saying that this assistance comes under the SME Policy 2016 on Start Your Own Business Program.
Mr Ralda, while presenting the payment receipts explains that the seed capital funding is start-up capital that will boost their SME Business.
He said that this SME program has changed many people at the community level.
“About 85% of the population in the country did not know how to manage and run an entrepreneurship business ... .doing business and accurate management is a trait for white and other developed nations.” Mr Ralda said.
“Therefore, the National Government through the SME Corporation is creating avenues for communities to be involved in business to build a entrepreneurship culture in the country.” He says.
Mr Ralda further explains that under the SME Policy 2016, we have the Start & Improve your Business program that facilitates SME training and allocate funding to start their business.
He said that we have seen many changes through this program at the community level.
“Through this SME program, many youths and school drop-outs are involved in small businesses, operation PMVs, guest houses and more.”
“This is a life changing program and two recent groups from Anglimp are privileged to receive this government funding.”
Mr Ralda said this and also urged the recipients to manage their time properly, work cooperatively, and put to use the capital seed funding under strict management to prosper.
Mr Ralda also reminded the SME groups that the SME Corporation will carry out monitoring and evaluation after some months.
This is not the first time for SME Corporation to assist associations with seed capital funds; Yara-Yakri Pannga community association in Jiwaka and Koltom Rice Farmers in Western Highlands received similar support.
This was a small but significant event that involved the Baisu Correctional Service Unit with talks held to extend the program into the prison camp for remedies to those involved in the Prison Industries Program.