Three female final-year students from the International Training Institute (ITI) in Port Moresby yesterday (Monday) secured business space at Unity Mall through an ITI, Mama Bank and SMEC partnership, gaining practical experience while continuing their studies.
The three students are Sharlyn Bae, Magdaline Dapal and Mavis Omoa.
Bae is a final-year Diploma in Business Accounting student and operates Liijay Sweets, which specializes in cakes and pastries.
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Dapal is a final-year Diploma in Marketing Management student and operates Maravut Sales, selling arts and crafts, while Omoa, also a final-year Diploma in Business Accounting student, operates Mavuai Collection.
The initiative grew from ITI’s student pop-up markets, held every two months to give students an opportunity to showcase and sell their products.
Seven students were initially selected and interviewed for the SME business on-the-job training programme, with the three women eventually chosen to operate their businesses at Unity Mall.
ITI Chairman and Co-Founder Senthil Kumaran Sentheyval said the programme was designed to give students an opportunity to gain practical experience in starting and managing a business while still studying.
He said ITI had partnerships with SMEC and Mama Bank to provide training, financial support and other assistance to the student entrepreneurs.
Mr. Kumaran said the initiative would be an ongoing process, with other students expected to participate in future.
He said the aim was to give students an initial push so they could develop cash flow and eventually establish their own business spaces.
“If you give them the initial push, if they start having their cash flow, then they can rent their own space in the future and run their own businesses,” he said.
Chairman Kumaran also added that the programme would continue after the first three participants, with future groups of students expected to receive similar opportunities.
Mama Bank Chief Executive Officer Gunanidhi Das congratulated the three students and said the bank was pleased to support young women entering entrepreneurship.
Mr. Das said Mama Bank would provide financial literacy training and support the students through savings and loan facilities under its memorandum of understanding with ITI.
He said students could begin with smaller loans and potentially access larger financing as they developed their businesses, savings and credit history.
Das also encouraged the students to keep their personal and business finances separate and to save part of their profits for reinvestment.
He said the partnership demonstrated how organisations could work together to support employment creation through small businesses.
SMEC Special Project Advisor, Mr. Edward Kepa said the corporation was pleased to see the students putting their training into practice.
He said SMEC conducted entrepreneurship training for the students in July under an internationally recognised programme aimed at developing entrepreneurs and employment creators.
Mr. Kepa said SMEC would continue providing training and support to the students as the partnership progressed.
Unity Supermarket Limited Executive Chairman Eric Haiara also congratulated the students and encouraged them to remain consistent in their businesses.
Mr. Haiara advised the young entrepreneurs to maintain consistency in their products, operating hours and pricing to build customer confidence.
He said Unity Mall had about 100 small businesses and could serve as a launching pad for young entrepreneurs.
Under the partnership, the students have been provided with space at Unity Mall to sell their products.
The normal rental cost is about K7,000 per month, but Unity Supermarket Limited has provided a 20 per cent discount, reducing the rental to K5,600, which will be covered by ITI management.
The programme provides the students with practical on-the-job experience while allowing them to continue their academic studies.
The three students attend classes on Mondays, Tuesdays and Fridays, while their businesses will operate on the other days, with family members assisting with sales when the students are in class.
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The partnership builds on ITI’s existing memorandums of understanding with Mama Bank and SMEC and its arrangement with Unity Supermarket Limited to provide business space.
The broader objective was to encourage young people to become entrepreneurs and create employment rather than relying only on formal employment after graduation.