Entrepreneurial education needed in PNG

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With a population potentially reaching up to 20 million and only about 500,000 formal jobs available, many individuals with degrees, diplomas, or certificates struggle to find employment.

Yaninen emphasized the importance of creating opportunities through entrepreneurship and SME development, stressing that starting financial education at a young age can lead to greater success in wealth creation.

He revealed this during the graduation of 19 children from PACIFUND’s BIZKIDS Holiday program. This week-long initiative is aimed at inspiring and educating young minds about real-world business practices and sparking entrepreneurial ambitions.

Throughout the program, the children engaged in interactive discussions, business planning exercises, and guided tours of various local businesses to gain firsthand insights into their operations.

William Field Sr. represented the parents of the young graduates, proudly witnessing their accomplishments. The program concluded with the presentation of special awards to outstanding participants. Reynold Andrew Esonu was named Top Entrepreneur in the senior category, while Keziah Sape received the same honour in the junior category.

William Field Jr. stood out by earning multiple awards, including Highest Profit (K138.59), Highest Revenue (K240.00), and Highest Employees, a tie with Isadora Rau and Antonio Bagore, each employing two people.

Yaninen elaborated on the objectives of the BIZKIDS program, which runs every school holiday in Port Moresby and includes online participation from children outside the city. The program teaches the basics of running a business, including pricing, branding, marketing, and practical business operations.

Participants also had the chance to sell products at an open market, gaining real-life business experience and earning money. The awards at the graduation ceremony recognized the children’s achievements in various business aspects, from profitability to employment generation.

Reflecting on the program’s impact, Yaninen expressed pride in the children and their parents, believing that empowering young entrepreneurs today will help them become future employers and economic drivers.

He noted that the average SME employs about four people, and by equipping children with entrepreneurial skills, they will be capable of significantly contributing to Papua New Guinea’s economic growth.

William Field Jr., the most awarded participant, expressed his gratitude to PACIFUND and the program coordinators for the valuable lessons learned, underscoring the program’s success in nurturing the next generation of entrepreneurs.

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