Informal economy

Creative-prenures benefit from Palau market

The initiative was technically supported and funded by the United Nations joint Informal Economies Recovery Project with the support of the Palau Chamber of Commerce.

News | 20 December 2021
Palau (ILO News) - Thirty-four micro business owners had the opportunity to display and sell their products at a Ministry of Agriculture, Fisheries, and Environment sponsored fair in partnership with the Palau Chamber of Commerce. The event also included the support from the Belau National Museum and Palau Visitor Authority.

As advocates for ILO’s Informal Economies Recovery Project, the Palau Chamber of Commerce wanted the creative-preneurs to participate in this one-of-a-kind fair for various reasons.

Most importantly, the Chamber wanted to link the creative-preneurs to the local buyers in the community and provide an opportunity to practice their newly acquired business skills. From the project, a total of twenty-six (26) creative-preneurs were able to showcase their artistic skills and products such as fashion, carving, jewelry making, potters, sculptures and weavers. According to the PCOC, such numbers are very high for an artisanal event.

The Biodiversity Fair was successful in accomplishing its goal of increasing awareness of Palau’s depth and breadth of locally made products, as well as of the artists and producers. A total of thirty-four (34) artists, producers, and singers participated in the Biodiversity Fair. According to the Ministry of Agriculture, Fisheries, and Environment, the collective sales generated at the Biodiversity Fair amounted to $8,100.

It was reported that while the majority of the micro enterprises sold 70-80 per cent of their produce, 11 micro business owners were all sold out!

This was a significant milestone for the creative-preneurs after completing a series of ten (10) workshops over five weeks facilitated through the Palau Chamber of Commerce.

The workshops were designed to build the entrepreneurial skills of the artists, aka creative-preneur. The creative-preneur beneficiaries of Palau project include wood carvers (storyboard), weavers, potters, visual artists, fashion designers, and singers.

The next steps for the project in Palau are to form a cooperative for the handicraft artists and create a safe space for the creative-preneurs to practice the concepts and skills that they have learned in the business development workshops. For more information about the Palau Informal Recovery Project, please contact the Palau Chamber of Commerce or visit their website.