Small and Medium Enterprises (SMEs) are also considered as the fundamental tool for economic growth; nevertheless, they face continuous challenges.
In an idea to giving exposure and recognition to these PNG micro businesses, BSP Financial Group Limited (BSP) has supported the course by awarding the Grand Prize winner of the Pacific Islands Publishing (PIP) - Lilly Magazine “Homemade Product Competition” for the ‘Most Innovative’ product.
Participating micro businesses winners were judged under 4 categories of the competition including;
- Edible Category winner - Renata Lavail (POM) | For her Ignola/Ganola bars
- Wearable Category Winner – Daphne Vela (POM) | For her hand painted Coconut shell earrings
- Artistic Catogary Winner - Rayleen Taniung (Arawa) | Rays Art Haven – Traditional painting on bed sheet canvas
- USEFUL Category (Most Innovative) Grand Prize Winner – Geno Geno (POM)
Plates, bowls and spoons made out of bettlenut husks
BSP Corporate Sponsorship Manager Amelia Minnopu with the Grand Prize winner's representative.
BSP Corporate Sponsorship Manager Amelia Minnopu when presenting the grand prize award of K2500 to the Most Innovative product winner said, “the bank is not only focused on the corporate aspect of businesses but we believe in making a difference through our support for small businesses to ensure they expand and grow.”
“As a peoples bank, we are always happy to help people succeed through their small businesses, and when they succeed, communities succeed to maintain or improve the country's economic growth. We believe that our support today will provide opportunities for Micro, and Small Business Entrepreneurs to unlock their considerable economic potential,” she added.
“This is not our first in supporting micro and small businesses with financial inclusion to grow, we are also the SME Supply Chain Exhibition and Seminar Gold Sponsor, including the Prizes for SME Magazine Essay Competition,” added Ms Minnopu.
BSP has supported the Pacific Islands Publishing (PIP) - Lilly Magazine “Homemade Product Competition” winners with the grand prize of K2500 cash voucher for the Most Innovative product and merchandise packs for the runner-ups.