Port Moresby Chamber of Commerce – A Partnership for Growth and Resilience
The vibrant local art on the wall of the Port Moresby Chamber of Commerce boardroom is a first hint of the passion CEO Stacey O’Nea has for the culture of PNG, and its largely SME economy. In an interview in August 2021, Stacey described the wide array of innovative business services on offer to SMEs in PNG. Regular networking evenings are held to connect SMEs regionally or domestically where business owners meet and discuss business issues, enabling effective business to business matching. These evenings frequently include a government interface, giving SMEs a consolidated private sector voice. Business breakfasts bi-monthly offer an opportunity for topical issues affecting business to be discussed, generally including input from regulatory authorities who outline processes, delays, and obstacles to doing business. In 2020, an award was established for SMEs at the investment and innovation conference, increasing the profile of successful SMEs in the wider business community. Business Link Pacific (BLP) is the first dedicated service to work with the Chamber, and Stacey believes the future for SMEs will be brighter for the relationship. Matching businesses and advisors in the same jurisdiction make a lot of sense to Stacey.
Different jurisdictions have different laws and policies. It is good to get advice from peers who understand the policies and regulatory frameworks – not just domestically, but across the Pacific Island region.”
BLP supports a network of 37 quality approved business advisors across PNG that have worked with 142 local SMEs, providing business advisory services worth 2.5M PGK. BLP has contributed 50% of the fees towards the provision of these services. As a first step towards improving business operations and connecting to qualified business advisors, BLP has also supported over 2,000 SMEs in PNG to carry out online business health checks and resilience self-assessments. Certain industries are growing fast in PNG, such as fishing and textiles.
Some women with skills and knowledge wanting to get into the textile industry found there was a shortage of design training opportunities in PNG,” says Stacey. “To overcome this barrier, they travelled to Fiji to attend courses. The business ecosystem in the Pacific leverages off other islands, allowing business to grow and compete.” BLP’s services enable support to emerge business such as Annette Sete’s offshoot clothing line Lavagirl, which has been supported to showcase Annette’s latest designs to supportive market players in Fiji, improving her business through networking across the South Pacific region.
The major barrier to SMEs accessing business advice in PNG is financial literacy. This significant obstacle is reflected in SMEs not having access to loans and not understanding what help is available and where to find it. BLP’s involvement has highlighted the need for training and awareness. Business owners are more willing and confident to seek assistance from BLP’s business advisory service to upskill rather than relying on their own knowledge base.
Businesses are slowly letting go of their preconception that it is difficult and complicated to get help and advice.”
Stacey O’Nea believes the partnership with BLP creates a “specialised, value-add, dedicated service to business in PNG, facilitating the development of referral pathways between start-ups, SMEs and business service providers.” Stacey continues, “By building expertise to provide the required services for the Chamber’s membership, a successful ecosystem is established.” Ensuring the advice is getting to the right business is a constant challenge. Industry Engagement Officer Roddie Soweni helps to create a clear channel for the tools and services BLP offers. Roddie identifies and resolves issues to ensure BLP’s assistance is always available. This dedicated service is an entry point to businesses most in need, opening up possibilities through an education process to facilitate business growth. While the Port Moresby Chamber’s relationship with BLP is newly established, evidence from outcomes in other Pacific nations is positive, and Stacey, Roddie, and the Port Moresby Chamber anticipate a successful outcome for BLP’s business facilitation programmes in PNG.
- If you liked this article you might also like to read about BLP’s partnership with the Lae Chamber of Commerce here