When a bank or microfinance officer looks at your business, they are looking for one thing: proof. Proof of what comes in, what goes out, and what is left. Most PNG SMEs run good businesses but cannot show this proof — and the loan is refused.
Start with one exercise book
- Every day, write the date, what you sold, and the total money in
- Write every cost: stock, transport, rent, wages, phone credit
- At the end of the week, add up both columns
That is it. No computer needed. After three months you have something most businesses cannot show a lender: a track record.
Keep business money separate
Keep a separate purse, wallet, or mobile money account for the business. When family needs and business money mix, the book stops telling the truth — and lenders can tell.
When you are ready for more
Mobile money statements are records too. Asking customers to pay by phone builds a paper trail automatically. The free training workshops for registered SMEs cover record keeping in more depth — registering on this site is the first step.