Elizah has transformed her approach to managing her shops' finances by participating in YES Grow, a business development program by BSP Financial Group Limited SME Team and Australian Business Volunteers (ABV). Thanks to this training, she now understands book keeping fundamentals and how to monitor her shop's daily earnings.
Under the Your Enterprise Scheme (YES), in collaboration with BSP, ABV designed YES Grow, a comprehensive four-week program tailored to small businesses and entrepreneurs looking to take their businesses to the next level. YES Grow empowers participants with the skills and knowledge to expand their operations through one-to-one mentoring sessions with ABV's highly skilled business volunteers. The volunteers will track the business's progress over the next six months and provide continued support.
As one of 113 small-medium enterprises (SMEs) in Port Moresby who attended this training, Elizah, a mother of eight, oversees four retail shops under Blessina Trading. Her entrepreneurial journey began in 2019 at 9 Mile outside Port Moresby and expanded to include two shops in Gordons and Koki in 2020, with her most recent addition in Hohola this year.
Blessina Trading owner Elizah Pape received one on one coaching from ABV Skilled Business Volunteer in Port Moresby.
“I ran my four shops with the limited business knowledge I had. Having attended the training, I now have some understanding on stock take, revenue inflow, bookkeeping, loan repayment etc. From my training, I have also provided books to our storekeepers, and I am able to monitor the daily takings,” the owner of Blessina Trading said.
Recognising the significance of saving money, Elizah acknowledged past challenges in managing her daily takings but highlighted a positive change since the training. “I was able to save enough in September after attending the training. This training has upskilled and empowered me to do better. I know my business will grow. I aim to expand to another four more shops in the next five years and grow my SME further.
"As a mother responsible for my family, my small business has been instrumental in supporting their needs, from school fees to transportation and medical expenses. I am committed to expanding my business as it sustains my family," added the determined businesswoman from Hela.
The success of the BSP and ABV business development training has prompted its expansion to BSP SME customers in Lae, Morobe Province, with plans for similar training sessions in Mt Hagen, Western Highlands Province, in early 2024.
Hela businesswoman and owner of Blessina Trading Elizah Pape is now able to do basic book keeping to run her business thanks to BSP and ABV business development training.