Are Women Successful in Business in Papua New Guinea?

When it comes to women in business in Papua New Guinea (PNG), the answer is a mix of challenges and successes. PNG, like many other countries, is making efforts to promote gender equality and empower women in various fields, including business and leadership. Let's dig deeper into the subject to gain a comprehensive understanding of Women in Business in PNG.

In this article, we take a look at other help available to 'Women in Business in Papua New Guinea. Click here to find out.

Find out about Business Colleges in PNG, click here. (How to apply, GPA requirement and all you need to know as a Grade 12 student wanting to study business at a college or university next year)

What is the Current Scenario?

While the PNG government is making progress on gender equality and women's participation in economic development, there is still much work to be done. 

The country ranks among the poorest performers in the Pacific on gender development indices, indicating that women face significant hurdles in realizing their full potential in business.

To read about our recent article on on this topic (PNG Women in Business), click here.

Key Challenges Faced by Women in Business

Women entrepreneurs in PNG encounter several challenges that hinder their business growth. These challenges include:

• limited access to land and property rights, 
• lack of financial literacy and business skills, 
• difficulty in accessing finance, and 
• cultural barriers that restrict their economic opportunities. 

Additionally, poor infrastructure, lack of legal support, and limited networking opportunities further compound the challenges faced by women in business.

Successful Business Models for Women in PNG

Despite the obstacles, there are inspiring success stories of women-owned businesses in PNG. 

Successful business models include women entrepreneurs in the agricultural sector, women artisans and craft producers promoting Fair Trade and organic products, and women excelling in the service industry. 

When equipped with financial literacy training, mentorship, and support networks, women entrepreneurs have shown remarkable resilience and achievements.

Initiatives for Women's Economic Empowerment

To promote women's economic empowerment in PNG, there is a need for targeted initiatives. These include:

• reviewing and reforming land laws to ensure women's land ownership rights, 
• providing customized business training and financial literacy programs, 
• establishing women's business incubation centers, and 
• facilitating access to regional and international markets. 

Advocacy groups, such as a Women's Chamber of Business, can play a crucial role in supporting women entrepreneurs and promoting their interests.

Study at Port Moresby Business College next year

Conclusion

All in all, while challenges persist, women in business in Papua New Guinea are making strides towards success. 

With the right support, empowerment, and an inclusive approach, women entrepreneurs have the potential to drive economic growth, create sustainable businesses, and contribute significantly to the country's development.

How to Register Company with IPA Online (Investment Promotion Authority)

This is an extract of frequently ask questions for registering a business in Papua New Guinea with the Investment Promotion Authority (IPA). The information first appeared in the Post Courier and we share it here for our readers. 

In this info-article, you'll find out about the different companies you can register; how to register a business either offline (in person) or online; the cost of registering a business what to do when you've applied to register a business. 

How do I register a business? 

There are a number of differences which one can register:

1. A Limited Company,
2. Business Name, 
3. Association, 
4. Business Group and 
5. Foreign Enterprise

Upon registration, one can receive a registration certificate under the entity type they register.

How do I go on obtaining an IPA Certificate?

The IPA Certificate is given to foreign entities that are after company registration is required to lodge a foreign enterprise application.

How do I obtain this important document? 

One can obtain extracts or certificates of business entities, from IPA Website. However, at the IPA front counters, IPA does not provide soft-copy searches or printed extracts.

How to register business offline?

• 1. Business name registration fee offline is K200.00
• 2. You must submit the completed business name Form 1 to the Registrar of companies, via post if you are outside of Port Moresby or at our public front counter at Konedobu.
• 3. The IPA postal addresses are; PO Box 1281, Port Moresby, NCD or PO Box 5053, Boroko, NCD, Attention: Registrar of Companies.
• 4. In relation to payment, IPA does not accept cash, hence, fees can be paid via bank cheque, Eftpos on-site or direct deposit using IPA’s customized deposit form.
• 5. If using the normal bank deposit form, please remember to attach the original deposit butt to the application form.
• 6. Account Name: INVESTMENT PROMOTION AUTHORITY 
• 7. Bank: WESTPAC Acc#: 295283 | BSP Acc#: 1001323865 | KINA Acc#: 1150909

How to register a business online?

You also have an option to register your business name and pay fees online using a visa/credit card or by registering yourself as a Deposit Account (prepaid) user on the IPA website. 

The filing fee to register your business name online is K150.00.

PART A FIRST, CREATE A REGISTERED USER ACCOUNT BY DOING THE FOLLOWING 

In order to use IPA Online Registry System (ORS) to access services other than conducting entity searches, one must first register an ONLINE USER account.

To register an online user account, follow steps 1-6 below. 

(If you are already a registered user, please skip to PART B).

• 1. Enter the IPA website address as in https://www.ipa.gov.pg 
• 2. Click Register account 
• 3. Enter your personal details 
• 4. Enter a username
• 5. Enter a password 
• 6. Click ‘create’ to be automatically registered as a registered user. A dashboard automatically appears on the successful completion of this process.

Note: Ensure to record your username and password lest you forget.

PART B – CHECK NAME AVAILABILITY

The first step towards applying for any entity registration including Business Names is to make sure that the name you are proposing to register is available (or is not already registered by someone else). 

Follow Steps 1-6 below: Click Online Services from the tab as in below

PART C – REGISTERING A BUSINESS NAME ONLINE 

• 1. Again, from your dashboard click Online Services 
• 2. Click on Register Business Name 
• 3. Fully complete all tabs as in below and click ‘Submit’

• 4. Once the Fee Payment screen appears complete details in full and click ‘Continue’. A follow-on payment screen will appear. 
• 5. Fill in the details of your CREDIT or DEBIT CARD. 
• 6. Click ‘Continue’ to complete the process.

PART D – NOTES 

• WHAT TO EXPECT: Once the above process is complete, the application is queued in the internal work queue and can be processed imminently.
• ESTIMATED TURNAROUND TIME: Approximate processing time for applications submitted online is 2 working days. Follow-ups may be staged after 2 working days.
• ONLINE FEE: Online application/registration fee applicable for Business Names is K150.
• PAYMENT METHOD: For any online submission, a fee is to be made by either CREDIT CARD or DEBIT CARD
• FOREIGN ENTERPRISE CERTIFICATION: After completing the registration process as above, entities having foreign involvements will need to apply for what is called a Foreign Enterprise Certification. For this, refer to the information sheet titled ‘Using Online Registry System – Foreign Certification Process.
• EMAIL CONTACT: The email address to be used for online queries is ipaonline@ipa.gov.pg

Source: This article originally appeared in the Post Courier 

(24 December 2021)