SME Owners Need a Shift in Mindset for Business Success

Seminar Participants with Speaker Ian D. Hetri -Far Left 

Papua New Guinea’s small and Medium Enterprises (SMEs) owners need success mindset to be successful in business. This was the key message from the Managing Director of Aila Consulting Limited, Mr. Eddie Aila who hosted a SME success seminar this week at Port Moresby Chamber of Commerce this week.

Aila Consulting Limited is a financial planning company that operates in Australia and PNG providing the much needed, personal development, business management and leadership skills to individuals and companies.

Busy audience 

The aim of the seminar was to develop success mindset in minds of the SME owners so that they don’t wait for the funding to come from the government but be creative and innovative in finding ways to raise enough capital to start up their own business. Not only that but also when they start making money, learn to manage their money, sustain it and grow their business.

It was a highly successful seminar with many practical business skills shared. The seminar covered areas in personal development to business planning, start up and financial management and business leadership skills.

There are nearly a million SMEs in PNG and Government of PNG, led by Minister Richard Maru has recognized the importance of the sector and is placing more emphasis on the sector. But more effort must be placed on developing the capacity of the SME owners so that they build their business on solid foundations.  

Speakers: Ian D. Hetri (left) and Eddie Aila (Right)

It is believed that high cost of doing business in PNG is a major factor in many SMEs failing in business. However, Mr. Aila said as long as owners of the SME owners themselves have necessary business, leadership and financial management skills, they should never go wrong.

 “Success of the business has more to do with your mind than how much capital you have” said Mr. Aila.

Mr. Aila who is a registered Neuro Linguistics Programing and a success coach and speaker strongly emphasized on the mindset as being the key to success in business.

The participants who were most entrepreneurs, expressed satisfaction with the outcome of their participation.