Case study · Papua New Guinea
BLP Subsidy Scheme enables local accounting firm to connect with SME’s in Papua New Guinea.
In partnership with Business Link Pacific, Kuna Taberia Kiruwi Accountants and Advisors (KTK) began providing subsidised accounting advisory services for SME’s in Papua New Guinea (PNG) in December 2017.
Kuna Taberia Kiruwi Accountants and Advisors is a reputable professional services firm in PNG. After years of service in senior ranks, Richard Kuna, Thomas Taberia and Paul Kiruwi formed KTK in 2013 with a vision to help businesses thrive by using leading systems backed by a high performing team.
Manager of Cloud Accounting Loata Qarau says that KTK is passionate about partnering and growth.
“Whilst we have a wealth of experience, we have what no competitor of ours has; PNG content and delivery with PNG in mind and at heart,” says Qarau.
The three founding fathers of KTK have accumulated a combined experience of over 65 years in professional services and commercial industries across a number of countries including Papua New Guinea and Australia. The firm strongly believe in a culture of providing quality service and growing with their clients.
The dream was simple and that was to build a legacy for PNG and to bring more Papua New Guineans into this industry.
“We’ve grown since 2013 with a current staff ceiling of 38 with over 60% of them being women in our 5th year running. We’ve got an office in Arawa, Buka, and Tabubil and of course our HQ in Port Moresby. Although the company was started by 3 men, equal gender participation is a very strong culture at KTK. We have women in leadership roles such as Rosemary Joseph Manager Autonomous Region of Bougainville, Angela Tara, Manager Taxation Services, Roslyn Tagua Practice Manager Finance & Administration, Sharon Macdonald, Senior Consultant, Consulting Services, Puana Aiga Consultant Visa & Work Permit Services and of course myself as Manager Cloud Accounting,” Qarau commented.
KTK started the subsidized accounting advisory services for SMEs in partnership with Business Link Pacific in December 2017.
Qarau says the Business Link Pacific initiative has many benefits that foster compliance and enable further access to finance for SMEs wanting to seek assistance from financial institutions.
KTK provides Business Advisory in the areas of Accounting, Goods and Services Tax (GST), Income Tax, Budget and cash flow planning, forecasting and more.
KTK became one of the first accounting firms in PNG to use Xero. Xero Accounting is a New Zealand-based company that is steadily going global. And as it grows, Xero Accounting Software is becoming a big name in the PNG. In fact, because of its superior software, Xero is starting to give tried and true accounting software—like QuickBooks and Sage—a run for their money.
“We’re currently using the Xero Accounting Software. It is a great option for very small businesses or sole proprietors. You are able to prepare your Invoices and Quotes, manage your Bills and reconcile bank transactions every month. One of the most notable perks of Xero is access to payroll and multi-currency business accounting,” Qarau says.
Business Link Pacific’s subsidy scheme allows eligible small and medium enterprises to access high quality business development services at a subsidized price. The subsidy scheme prioritized for advisory services which will effectively help small and medium enterprises in innovating, scaling up and franchising, as well as exporting and assessing the ability to repay a loan.
Business Link Pacific’s subsidy scheme is reviewed and approved based on identified business skills, flexibility of services and creative business ideas.