25/06/2026
10 Simple Steps to Start a Small Business in Papua New Guinea (PNG)
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1. Think of a Business Idea
Choose a business idea based on what people need and what you’re good at. Make sure there’s a demand for your product or service in your area.
2. Write a Business Plan
Create a simple plan that explains what your business will sell, who your customers are, how you will advertise, and how much money you expect to make and spend.
3. Pick a Business Type
Decide if you want to run your business alone (Sole Trader), with a partner (Partnership), or as a company (Company). Companies are more official but need extra paperwork.
4. Register
Register your business name or company with the Investment Promotion Authority (IPA). Make sure the name is unique and fits your business idea. They have different fees and compliance requirements.
5. Get a Tax Number (TIN)
Apply for a Tax Identification Number (TIN) from the Internal Revenue Commission (IRC). This number is needed to pay taxes properly. If it is your first time, they'll tell you to register an individual TIN under your name, and a non individual TIN under your company name.
6. Open a Business Bank Account
Open a business bank account with a bank like BSP, Kina Bank, or TISA, NBC, Credit Bank. etc.This keeps your personal and business money separate. Different banks have different SME loan requirements.
7. Apply for Licenses and Permits
Some businesses need special licenses, like a trading license from your local town authority. Check what you need for your type of business.
8. Follow Employment Rules
If you plan to hire workers, make sure you follow PNG labor laws. This includes fair pay, work hours, and signing up for superannuation (retirement savings).
9. Keep Track of Money
Set up a system to record your earnings and spending. You can use tools like Excel, Xero, or QuickBooks to keep your finances organized. If you want to learn, let me know.
10. Advertise and Start Your Business
Spread the word about.