By
MALUM NALU
Preparations are well underway for National
Development Bank to host its first-ever Women in Business Summit at Holiday Inn
from March 25-27.
An
NDB banner for the WIB summit set for March 25-27.-Picture by MALUM NALU
|
The summit was one of the major recommendations from
an NDB-commissioned market research into the obstacles and challenges facing
current and potential women entrepreneurs from starting, managing and growing
their business.
The research was follow-on from NDB’s decision to be
the first bank to establish a women’s desk and give special attention to
supporting the growth of women-owned and managed businesses in PNG.
Managing director of NDB, Richard Maru, said in just
one year of establishing its women in business desk, “we have seen a 1,000%
growth in our funding of loans to women-owned and managed companies”.
“In 2010, we lent K750, 000 to 27 women-owned
companies and in 2011, we lent K9 million to 90 women-owned and managed
companies,” he said.
“There is exponential growth potential of the women
in business sector, if the need of our women are addressed, and they are empowered
to motivated to start and grow their businesses with strong support structures
in place, including training and mentoring services.
“The research results were very interesting as it
brought to light a lot of insights that women entrepreneurs face in setting up
and running their enterprises in PNG.
“It was found that:
- · Women lack confidence to start businesses;
- They are afraid of banks;
- Do not have necessary business management skills; and
- · Do not have a support network of mentors and much more.
“As a result, NDB and its partner sponsors will
stage the first-ever ‘NDB Women in Business Summit’ to address those concerns
and develop strategies to support the growth of women entrepreneurs in the SME
sector in PNG.
“The summit is for women who are already in business
and those that are looking at starting up businesses.”
Pre-registration for the summit closes tomorrow
(Friday, Marh 3) as there has been so much interest but not enough space to cater for
everyone."
There will be preliminary screening and selection
made to ensure that only genuine women in business and those that are seriously
intending to start businesses attend.
It will feature international and national women
entrepreneur speakers and will cover topis such as how to build a successful
business, key business management principles, cash flow analysis, what makes
businesses fail, how to differentiate your business, and many more.
“This summit will empower, inspire and add value to
PNG women in business and sets the platform for them to take their businesses
to the next level,” Maru said.
“In supporting women entrepreneurs in PNG, NDB will
also launch the following initiatives, which will further cement its services:
- · A new loan package for women entrepreneurs in PNG;
- · NDB Women In Business mentor network;
- · A website for information, tools, templates etc that women will access for their businesses; and
- · An annual awards programme.
“The Prime Minister has been invited to open the
summit.
“NDB believes that with these initiatives and this
inaugural summit, this should give the women in small to medium enterprises the
confidence they need to move forward.
“These summits will be an annual event and is part
of the NDB initiative on supporting the growth of women in business segment of
the SME sector in PNG.”
No comments:
Post a Comment