BSP and the Australian Business Volunteers (ABV) join forces to train local SMEs

BSP Financial Group Limited (BSP) in partnership with Australian Business Volunteers (ABV) has extended the roll out of its YES Grow Program to local SMEs across PNG, following the program’s success in Fiji earlier this year.

BSP is excited to announce a collaborative partnership with Australian Business Volunteers (ABV). Together, they are launching an innovative Small and Medium-sized Enterprise (SME) Training Program designed to empower and support them in their growth and development. Under the Your Enterprise Scheme (YES), ABV in conjunction with BSP, developed a four week YES Grow Program for small businesses and entrepreneurs where participants were equipped with how to grow their business. Participant SME businesses attend a series of tailored workshops, one-to-one coaching, and mentoring sessions with highly skilled business volunteers.

The Training Program provides SMEs essential knowledge, resources, and skills to thrive in an evolving business landscape. The program leverages the expertise of ABV, and the financial resources and industry insights of BSP, to offer a comprehensive curriculum, mentorship, and resources tailored to the specific needs of SMEs.

Key features of the YES Grow Training Program include:

• Industry-Relevant Workshops: The program offers a series of workshops covering a wide range of topics, including financial management, digital marketing, strategic planning, and more. These workshops are conducted by industry experts and seasoned professionals.
• Mentorship: SMEs enrolled in the program have the opportunity to be mentored by experienced business leaders, providing valuable guidance and insights to help them navigate challenges and seize opportunities.
• Access to Financial Resources: As a collaboration with BSP, the program provides access to financial products and services tailored to the specific needs of SMEs, enabling them to secure funding for expansion and investment.
• Networking Opportunities: Participants can network with fellow SMEs, industry experts, and potential partners, fostering connections and growth opportunities.
• Customised Support: The program recognises that each SME is unique, and offers personalised support and resources to address the specific needs and challenges of each participating business.

BSP Group CEO Mark Robinson, stated, "At BSP, we understand the importance of driving economic growth. This program reflects our commitment to supporting SMEs by not only providing financial resources but also by sharing our financial expertise and industry insights to help them succeed."

BSP General Manager Retail Daniel Faunt added, “Since 2020, under the Credit Enhancement Loan (CEL) Scheme, BSP has assisted over 3,140 SMEs with loans totalling K484.4m. The YES Grow Program represents BSPs investment in our SME customer base and our commitment to their success, and the economic growth of PNG.”

Commenting on the partnership, CEO of Australia Business Volunteers Liz Mackinlay, expressed enthusiasm about the collaboration, stating, "We are thrilled to join hands with BSP Financial Group Limited to empower SMEs and foster their growth. SMEs are the backbone of the PNG economy, and this program will provide them with the tools and knowledge they need to thrive and adapt in a dynamic business environment."

CEO of Australia Business Volunteers Liz Mackinlay speaking at the ABV launch.

Working in the region for over 40 years, ABV CEO Liz Mackinlay said “We have delivered over 500 programs in over 30 countries. Time and time again the success of our programs boils down to how locally driven the programs are for the unique contexts of the communities in which we are invited to work alongside. Program participants will gain valuable skills specific to their business through the relationships built with our skilled business volunteers. Our volunteers come with years of experience, coaching, and mentoring small businesses to successful outcomes,” Mackinlay added.

Benjamin Basso, General Manager of 3492 Logistics and Consultancy Solutions, is a BSP SME customer who participated in the Port Moresby program. Basso said “The program contains practical concepts that focuses on real life issues affecting most SME operations today. This training came at the right time when I wanted to expand. My daughter, who recently completed year 12 studies, attended the training with me. We have already begun applying the skills acquired in this program to our business activities.”

BSP Senior Manager Branch Sales and SME Samuel Mulina said “Access to small business skills remains a key challenge for many SMEs in PNG. The program upskills local SMEs to help them manage and grow their businesses – businesses that will contribute positively to their communities and the wider economy. Our program provides tailored business development skills, including bookkeeping, sales and marketing, and tax return submissions.”

Australian Business Volunteers (ABV) YES Grow Program participants.

The program rollout has commenced for BSP SME customers in NCD. 113 participants have been trained. Lae Training Cycle will run in the months of November then in February 2024. The training will be available to SMEs in Mt Hagen from April to May 2024 with the aim to train over 300 SMEs over the three destinations.

Customer who wish to participate in the remaining training can register via link https://ow.ly/6iSN50PPtKS  For more information about the SME Training Program and to inquire about enrollment, please visit www.bsp.com.pg