Australia has partnered with Lily Magazine and Pacifund to offer crucial entrepreneurial skills training to 15 Homemade competition finalists, with the goal of empowering Papua New Guinea’s aspiring business owners.
The effort, known as the Business Launch Challenge (Biz Launch), sought to provide these business owners with access to the technology they needed to support the expansion of their firms and with practical skills.
On December 18, 2023, the 30-day Biz Launch program began, with participants exploring a range of company lifecycle topics.
The extensive course covered subjects including financial literacy, marketing tactics, and company plan development.
It was delivered both in-person and virtually and combined structured training sessions with individualized one-on-one coaching.
At the end of the program, participants pitched their concepts to representatives from banks, business houses, and other stakeholders, and their enterprises were formally launched together with their graduation.
One of the success stories was Alice Kolokolo, the creator of Jadasha Grace Collections, whose earrings made of clay and coconut shell took first place in the ‘wearable’ category of the homemade competition.
Expressing her excitement, Alice shared, “Becoming a finalist and the top winner for the category has changed my whole perspective.”
“I feel like I have a purpose now – I’m not just a stay-at-home-mum.”
“I can be a businesswoman and I’m just ready for it.”
“I’m so eager to do it. I feel like I want to come to school every day. I’m really excited.”
Australia’s involvement in this initiative underscores its commitment to fostering networking opportunities and strengthening supply chains for Micro, Small, and Medium Enterprises (MSMEs) in Papua New Guinea.
Through targeted training and support, the Australian Government hopes to empower these entrepreneurs and encourage the expansion of PNG’s economic ecosystem.
In Port Moresby, the Australian High Commission stressed the importance of these kinds of programs in bolstering the nation’s economic growth.
Australia works in partnership with regional organizations such as Pacifund and Lily Magazine to support the long-term development of Papua New Guinea’s business scene.
The successful conclusion of the Biz Launch program is a critical turning point in the history of these 15 SMEs, representing a leap forward for the business community in Papua New Guinea as well as personal development for the participating entrepreneurs.
With continued assistance from Australia and other relevant parties, these business owners have the potential to significantly boost the economic growth of the country.