“Spend money to make money”

BY PAUL BUNGTABU

“You have to spend money to make money.”

These were the sentiments shared by one shop owner when giving his perspective on locally run businesses.

Augustine Tibe runs Tibe Trading in her home village of Gelagela Malagunan Village.

He said people need to invest in businesses to see them grow in a way that supports people with basic needs.

“I want to serve people by selling basic items to meet their needs,” he said.
Tibe Trading opened in March 2020 when COVID-19 hit the shores of PNG.

“It was a very difficult time for everyone, and I was hesitant to open but after careful consideration, I had to do so as demand for the store’s staples was high,” he said. .

Like every other local business owner, Mr. Tibe has his own challenges in running a trade store.

“Running a business comes with risks and challenges, and security is part of that,” he said.

“We are careful every day and we also commit ourselves every day to the Lord and thank Him for keeping us safe.”

Tibe Trading is in its third year of operation in the village.

When asked how he had done over the past two years, he said it was all about good management.
“You need to keep records and watch out for price markups at wholesale and retail stores in town,” he said.

Mr. Tibe is an experienced wholesaler and stock manager having worked with Pacific Industries and BNG before calling it and setting up his own store.

“A lot of our commercial stores in the community are going out of business because of the kind of mentality our people have of getting stuff and paying later,” he said.

Tibe Trading is a purchasing agent of PNG Power Easy Pay and had been providing the service for a year now.

He also wants to become a BSP agent in the near future.

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