Testing the water: entrepreneurs' use of local markets
Vitartas, P 2008, 'Testing the water: entrepreneurs' use of local markets', Review of International Comparative Management, vol. 2, no. 9, pp. 73-84.
Local markets are a source of much business activity in Australia with many regional centres relying on their local market for produce and to support their local economy and farmers. However markets provide a much greater service to local communities. For example, many markets develop a culture all of their own and become tourist attractions with people coming from afar to sample the exotic and cultural experiences. For home-based business operators and emerging entrepreneur's local markets can provide a testing ground for products and services and many successful business operators have started, or once operated, market stalls. Yet little is known about the operations of stall holders at markets; the extent of their business operation, their sources of business information, level of business knowledge and the strategies they adopt in marketing their goods and services. This article reports on a study of local market stall holders in the Northern Rivers region of New South Wales, Australia. It investigates a range of issues facing stall holders who utilise local markets as an outlet for their products.