PNG SME Policy – Taking PNG Forward 

The PNG SME Policy is a product of nationwide consultation and discussions covering wide range of areas including issues that need urgent attention.

The SME PNG movement has been growing over the years where organizations are expected to advocate on increasing the number of SMEs and MSMEs in the country.

MSMEs are expected to become startups, initiate business concepts and getting themselves registered through IPA Online Registration.

The SME policy sets out the foundation for SME growth, entrepreneurship and economic development.

Download the PNG SME Policy 2016 Papua New Guinea

It also has challenges and criticisms which the government is still working on trying to get the reserved business list to be enforced as a Law giving opportunities to Papua New Guineans to own and operate reserved businesses.

The government is also expected to expand its capacity in getting business incubation programs rolled out nationwide, fund NSMEs through the SME Loans, etc.

The SME Corporation is established by the government to oversee the implementation of the SME Policy.

Among the many objectives of the SME Policy, it envisages to creating 500,000 SMEs by the year 2020 (we’ve surpassed that without any credible data to date). That is why PNG SME is at the forefront registering businesses and providing services for Startups.

You can see the list of thousands of entities we have registered so far. We continue to do so. You can register online now as an SME with IPA

Eventually, we hope to reaching that milestone sooner. This page will be updated with news on the SME Policy.

SME Loans to Drive the SME Policy 

Prime Minister, James Marape has recently announced an SME Loans. It is a presentation of K200 million for SMEs to borrow and finance their businesses. The figure has been announced in 2021, 2022 and again in 2023 seeing many MSMEs benefiting from the loans.

This is a step forward to driving the SME Policy.

Read more about the SME Loans, including their Terms and conditions.

Take Back PNG Businesses from Foreigners

The SME Policy also aims to take back businesses that are supposedly reserved only for Papua New Guineans.

However, nothing much has been done by the Government to take back those jobs.

As of February 2023, a list of reserved businesses have been brought to the Parliament for endorsement.

We only hope that the PNG SME policy could achieve this objective much sooner.

PNG SME Corporation

The SME Corporation is a body set up by the Government with a PNG SME Act of 2014 to promote, oversee, coordinate and report to the government on the development of SMEs in the country.

The SME Corporation is a government statutory authority under the Department of Trade and Industry and it aims to promote Micros, Small and Medium Enterprises (SME) by indigenous Papua New Guineans.

It was formerly known as SBDC (Small Business Development Corporation).

Download the PNG SME Policy 2016 Papua New Guinea

The PNG SME Corporation has a website which has other information.

Their contact details are;

Section 53 Allotment 19 Ume Street Gordon, P.O.Box 286, Waigani, NCD,
National Capital District
Port Moresby 211
Papua New Guinea

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