Executive Summary

Executive Summary

The handicraft sector is one of the most effective ways to preserve the nation’s tradition and culture. The handicraft business has the potential to contribute significantly to the economic prosperity of both industrialized and developing countries. We will be used to create high-quality, environmentally sustainable products. 

People enjoy purchasing items that represent their culture and heritage. The need for handicrafts is increasing these days. The unique creations of good quality are usually in demand. By supplying high-quality handbags, ornamental accessories, and locally created art, we hope to become Canada’s most popular handicraft firm brand.

The objective of our business:

  • Concentrate on creating beautiful handicrafts.
  • Customers’ wants and requirements are taken into consideration when designing items.
  • Maintain a strong connection with customers.
  • Increase the value of artists and their work in the market.
  • In the following two years, we will have covered a large portion of the local market and increased our profitability.

Success Factors:

I believe the handicraft firm will be effective since it caters to a very specific location and culture. We make products that mirror the nation’s culture and tradition for the sake of corporate success. The following are some of the aspects that determine the success of a small business:

  • Make obtaining high-quality products at a low cost a top priority.
  • Assuring that employees are provided with a suitable working environment.
  • Maintain positive supplier and distributor relationships.
  • Reasonable and competitive pricing for the products.

Within the handicraft industry, there are a lot of opportunities. At the international level handicrafts have great value. Our products sell well in the local tourist market, it has yet to develop into a competitive export due to high costs, inadequate market access, and a lack of capacity to fulfill large volume orders. By improving the problems, the market for our products, as well as its export potential, may arise.