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URP group 02 presentation

Ravishka
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  1. Informal Market Group 02

  2. Introduction Pettah, located in Colombo, Sri Lanka, is a vibrant commercial hub well-known for its bustling informal market activities, especially concentrated around 1st, 2nd, and 3rd Cross Streets. The area serves as a key economic center where informal businesses, particularly mobile street vendors, play a significant role in the urban economy by providing affordable goods and employment opportunities.

  3. informal market definition • The informal market in Pettah can be defined as the unregulated economic space where informal traders conduct business without formal registration, licensing, or tax payments, often relying on public spaces and serving local urban populations through flexible, small-scale trade.

  4.  Characteristics • Predominantly small-scale, family-owned or individually-run ventures • Mobile and stationary street vendors operating without official business licenses • Labor-intensive with low capital investment • Operate mainly in public urban spaces like sidewalks, cross streets, and marketplaces • Reliance on local supply chains within Pettah, sourcing goods from wholesale streets and markets • High competition and low regulation, with mostly short-term or daily trading arrangements

  5. Nature of business • Businesses are mainly retail and vending activities covering a range of products such as fruits, vegetables, clothes, electronics, spices, and street food. • Vendors operate both as mobile and stationary traders. • Mobile vendors use pushcarts, baskets, or carry goods manually to sell as they move around. • Stationary vendors occupy pavements, streets, or small kiosks to sell their wares. • Most vendors are daily commuters from outside the city who come to Pettah to take advantage of its location and the availability of goods at low wholesale prices. • The informal businesses have minimal capital requirements and low barriers to entry, making it accessible for low-income individuals. • The sector includes fruit processing activities such as cutting and packaging by intermediaries linked to the vendors. • Vendors form a critical link in the supply chain, sourcing goods from wholesale markets within Pettah and distributing them to urban consumers.

  6. Informal market challenges • Lack of official recognition and legal protection, leading to vulnerability to eviction and harassment • No access to formal credit or financial services • Poor infrastructure like inadequate shelter, sanitation, and storage facilities • Intense competition and low profit margins • Health and safety risks due to unregulated food and goods handling • Difficulty in integration with formal markets despite being key supply chain players

  7.  Conclusion • The informal market in Pettah's cross streets is an indispensable part of the local economy, providing jobs, affordable goods, and supporting poverty reduction. Although informal vendors face significant challenges, they create strong economic linkages within the city’s supply chain. Sustainable development policies that protect the rights of vendors, improve infrastructure, and facilitate gradual formalization could enhance the sector’s growth and contribution to Colombo’s economy.

  8. Thank You Link of the presentation: ://drive.google.com/file/d/1JuimG2WqI32dXsR4tQJII7pCsHZfXCqW/view?usp=drive_link

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