Sam Kiak Tubangliu Certified Practising Accountants (SKT) in Papua New Guinea (PNG) is one of Business Link Pacific’s business advisory services that we connect with eligible PNG small-medium sized enterprises (SMEs).
We talked to them about what they believe are the primary accounting challenges facing SMEs in PNG.
The world is changing dramatically, with business models and processes becoming more and more complex. The current business environment in PNG is tough for small businesses, as they face issues that are unique to their own situations and conditions.
It’s not your fault! And you’re not alone.
When you start your own small business, you don’t put debits and credits at the top of your priorities. After all, keeping your records organized is not your passion or your strong suit. Nonetheless, ignoring management reporting leads to accounting problems that take you away from that passion, away from doing what matters most to you.
In the wake of various small business accounting problems, many of SKT’s clients have said, “If I had only known how many accounting and government responsibilities there were, I may not have started a business after all.” However, SKT shows its small business clients how to manage their businesses and keep their records in order.
And even despite knowing the existing issues, many small business owners don’t address them. Why?
“I don’t have the time.”
“I don’t know how.”
“There are too many other fires to put out.”
“A professional is too expensive.”
“I planned to hire someone to take care of it, but I just haven’t gotten around to it yet.”
Owner-operated businesses are the most dynamic force, yet they are universally challenged by limited resources.
Empowering Success
SKT has worked hard in the last two years to make bookkeeping, management accounting and taxation services affordable to PNG-based small to medium size enterprises combining technology, experience and back office support at rates designed specifically for an SME businesses budget.
Arthur Sam, Managing Partner at SKT says that the firm offers solutions that liberate business owners and accountants from the burden of day to day administration, empowering them to achieve business success.
From the outset, SKT’s solutions are aimed at alleviating an increasing administrative burden and giving business owners the necessary insights to run their businesses more successfully.
Business Link Pacific is wholly supportive of business advisory services like SKT that use their skills and experience to help growing SMEs in Papua New Guinea reach new heights of business success. For more information about how we can support your business, contact us on [email protected].