Almost all financial assistance from the banks and government have concentrated on multinational companies with little or no financial help to local businesses.
However, these local businesses have managed to survive with the most determined and dedicated hearts and minds.
Rhado Piggery Limited is one good example. The company, formerly known as Hagen Planters Ltd, specialises in breeding-weaning, growing, producing and selling live and slaughtered pigs to the National Capital District and Central Province.
For more than 20 years, managing director of the company Robert Rasaka has been committed and dedicated to the business.
Mr Rasaka said he started the business with less then 50 pigs in early 1990s. Now the company has thousands of pigs and its one the leading pig breeders in the country. Every week hundreds of pigs are sold live or slaughtered and hundreds more are born to replace them.
Mr Rasaka said major supermarkets in NCD order three times a week. And the company supplies them in the hundreds. Individuals and families also buy direct from the company.
Recently Rhado expanded its business to Koita Oroma Boita (KOB) Estate, a few kilometres away, which is run separately but under the same company name. The new farm has more than 2,000 pigs and it’s increasing production every day.
In the next five years the company will supply slaughtered and lives pigs to more than 70% of the fresh meat outlets in National Capital District and Central Province.
If PNG is to move forward, funding and supporting local businesses is important. This will help improve the economy and reduce high unemployment.
Over the years, Mr Rasaka said Rhado piggery had spent nearly K500, 000 annually on VAT alone. He stressed this money could have been his company’s annual profit that could be used to expand the business.
In 2011, he called on the government for tax exemption on stockfeed to enable the piggery industry in PNG to survive and meet growing demand in the country.
Radho Piggery spends around K444, 000 a month on stockfeed from Goodman Fielder in Lae and sometimes buys from Australian suppliers.
The company has survived with hard work, dedication and commitment despite zero assistance from any responsible government authorities or banks.
It’s about time the government, through its responsible agencies, supported local business by guaranteeing easy loans, tax concessions and promotion.