Participatory Appraisal of Competitive Advantage (PACA ®) - Main Users / Purpose
|Local Economic Development Projects and Activists,
Chambers, Economic Development Institutions,
Donors, Municipalities, Entrepreneurs
Therefore, a successful local economic development initiative relies to a substantial extent on voluntary work – businesspeople, government staff, and representatives of associations and organizations spending time in meetings and doing work which often is unpaid following a shared vision. Any local economic development initiative is therefore in need of visible, tangible results, and preferably quick results. Quick and tangible results motivate local actors to continue dedicating their time and other resources.
As a result, new companies are attracted, entrepreneurship is stimulated. PACA is driven by opportunities, looking at shortterm results, maximising the efficiency in the use of time, addressing market failure, stimulating business networking, addressing fragmentation of institutions and actors in a projectand opportunity-driven way.