How to Support the Creative Economy

What is the creative economy?

The creative economy includes all cultural and creative industries. This economy is based on a person or team’s use of imagination in order to increase the value of their products. These industries exist to produce and promote goods and services of a cultural and artistic nature, and they can include arts and crafts, music, photography, architecture, food, fashion, theatre, and more! In a successful creative economy, artists, nonprofits, and creative businesses work to produce goods and services that increase jobs, revenue, and quality of life. 

In both the US and around the world, artisans are a key component of the creative economy. In fact, artisans, farmers, and small business owners are an integral part of a thriving community and economy, regardless of whether the business is in a rural community or a sprawling city. These occupations not only bring about jobs but also provide critical skills development, especially in the developing world. There, the artisan sector is one of the top employers, second only to agriculture. This sector is especially important to women living and working in developing nations such as Haiti. Artisan businesses diversify and stimulate economic activity, helping individuals and families that work for them fully thrive. 

The global artisan market generates an estimated $34 billion a year. Supporting this economy is not charity; in fact, this market carries an incredible market potential that keeps growing with the demand for handcrafted, authentic, and locally produced goods. As a result of the rising demand, more and more banks, businesses, and organizations are realizing how important investing in this sector is. And Sak Lakay at saklakay.com has done just that.

Stimulating the creative economy and its benefits

Despite immense growth, especially in recent times, many members of the creative sector are faced with economic barriers that make personal and financial growth difficult. When creators lack access to capital, they can no longer contribute to a thriving creative economy. One of the many ways to help is to explore new models of financing. Investors looking to generate strong financial returns as well as bolster social impact should look into marrying the two and invest in the creative economy. For example, investors work together with microfinance organizations to conduct outreach to small business owners and provide loans to underserved communities. Having elected officials raise awareness about small businesses and community needs can also make a significant difference, directly impacting thousands of artisan entrepreneurs and their families around the world.

These investment moves can come with communal benefits even beyond buying and selling. In Haiti, most businesses also use art to preserve their cultural heritage while employing local people. Others can train formerly incarcerated or otherwise disadvantaged employees and help them onto their own career paths. This is what Sak Lakay has done in many regions of Haiti offering women entrepreneurs the opportunity to make and sell their artistic products to the world market. With the help of Sak Lakay investment, the people in Haiti can earn a respectable wage and feed their families, all while working in safe and healthy working conditions and revitalizing their communities. 

About Sak Lakay

Sak Lakay works directly with artisans, entrepreneurs, and product suppliers from various regions of Haiti that specialize in handcrafted art, decorative art, and wearable art. Sak Lakay is committed to supporting creative artisans, entrepreneurs, vendors, and suppliers—the right way. We understand that investing in the artisan sector is not charity, and in fact, only works to bolster economic impact and extend our reach to artisans in ways that simple charity cannot. Sak Lakay continues its commitment to fostering relationships with artisans based on the dignity and respect that encourages them to use their talents to grow their businesses, allowing them to achieve personal and professional success and sustainability. Not only is Sak Lakay your choice for gorgeous, lovingly crafted handbags, but Sak Lakay is also your home for a better tomorrow for everyone.