Being one of the carbon-negative countries in the world and owing to the rich culture, Bhutanese products have great potential to make it big in the international market. This was shared by an award-winning social entrepreneur, Stacy Edgar yesterday during an entrepreneurship workshop attended by Bhutanese entrepreneurs in Thimphu. Stacy is the executive director of the International Folk Art Market based in the United States which focuses on creating economic opportunities for and with folk artists globally.
The award-winning entrepreneur talked on various topics in the field of entrepreneurship and provided solutions to the challenges faced by Bhutanese entrepreneurs. She also talked about the potential challenges for Bhutanese entrepreneurs.
“The two biggest challenges I see are logistics because Bhutan is a landlocked country, so getting your products out is a challenge. And also getting your story out. When people think of Bhutan, they think of Gross National Happiness and they know it is a beautiful place. But they don’t know enough about all the wonderful things happening, such as the venture into entrepreneurship,” said Stacy Edgar(PhD), an award-winning entrepreneur.
She added that Bhutanese entrepreneurs have to start marketing their businesses by creating websites and posting on social media platforms to attract non-Bhutanese customers.
She also talked about the importance of marketing strategies such as marketing to the right group without having to devalue the products.
The workshop was expected to help Bhutanese entrepreneurs connect and network with the right group of people and customers.
“The most important thing is not only to get physical help, rather mentorship or connecting people is far more important. And she did a splendid job on it. She gave us a lot of ideas on what to do and what to expect. And these are very helpful things. This does not mean that we do not have expertise in the country. What we did receive from Ms Stacy is being able to connect with like-minded people in the US,” said Damchae Dem, founder of BAOWE.
A few participants who attended the workshop shared that it motivated them to work smarter.
“Although we face various challenges in business, I’ve learned that perseverance and doing our best can lead to better outcomes. After hearing about Ms Stacy’s business journey, how she started and the challenges she faced, which we as women can relate to, I feel motivated and confident to continue our efforts,” said Yangchen Dema, an entrepreneur.
“I was initially concerned about exporting my products, but knowing that Ms Stacy is willing to help us with the process has motivated me,” said Sonam Zangmo, another entrepreneur.
Currently, Bhutanese entrepreneurs mainly deal in the local market. Packaging and exporting challenges, high production costs, and lack of raw materials are some of the issues facing Bhutanese entrepreneurs.
Tashi Dekar
Edited by Kipchu
