Start a business in the new year

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Why don’t you start a new business venture this year? Come on, stop all the thinking and wishing and get a move on. You’ve given it enough thought and quite frankly you’ve got to take action or you’ll never come around to it.

You know, last year we complained a lot too. About life, about the cost of living, about the hassles of wantoks asking for you money regularly.  We’ve complained too much on social media and now it’s time to solve our problems.  One of the problems that seemed to popping up in the news feeds on social media was how difficult life is. Well, truth is complaining isn’t going to help. So why not start a business?

We’re not suggesting leave your current job and take a big risk – far from it. We’re talking about creating a revenue generating opportunity that accommodates your current job or your lifestyle. Maybe a few adjustments here and there but taking a calculated risk.

And if all goes well, who knows you could possibly solve some of those “life’s difficult” problems that you so often think about.

What about starting an e-commerce business because it’s possible to start small and there’s endless opportunities out there on the net.  Not many Papua New Guineans are taking on the opportunities e-commerce brings which is quite sad really.  There is so much to learn but there is so much to gain too if you play your cards rights.  But then again, any business has risks and it’s up to you how well you plan and execute your venture.

So what kind of business should you start? Again the opportunities are enormous but a good starting point is an activity that you are passionate about.

Find a niche, research it. And while your at it, get to know the internet more. The more you are familiar with how the internet works and in particular e-commerce, the more comfortable you will be in your decision making.

Many Papua New Guineans are starting to realize that the internet gives them opportunities to buy or sell so online transactions is gaining traction.  BSP’s Visa Debit Card has been a huge success for online transactions. ANZ too have recently introduced their on Visa Debit card.  These developments indicate the trend that middle class Papua New Guineans are starting take advantage of buying online.

It certainly is more convenient to buy online although there are pitfalls too. But online transactions are a norm in many developed countries and PNG is getting there.

So today, it’s a matter of trying to get familiar with the internet. And then consider what businesses you could start. Do some research on the business, the audience and generally the market.  Research how you could use the internet to conduct the business you’re interested in.

If you can start a business this year with a long term focus, be committed to the cause and continue to learn and better your business, you could be earning yourself some good money. Good money that could make you a little more comfortable under tough living conditions.

In the next issue, we will talk about how to actually start a business online – a simple starting point without all the tech stuff.

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