Companies recognize they won’t succeed in failed societies. Meanwhile, employees, consumers and other stakeholders are voicing their expectations for companies to also deliver societal value, not hinder and better yet – contribute to solve the most complex challenges of our time reflected in the Sustainable Development Goals.
With the equivalent of just US $10 or less, people living at the bottom of the economic pyramid (BoP) have to cover the costs of food, housing, education, transport, medical care, lighting and clothing every day. Most of these individuals are in developing countries – which for many businesses represent frontier markets. Low-income markets are mostly overlooked and represent untapped potential for economic growth.
But increasingly, companies are valuing inclusive business as a concrete model for driving both SDG impact and company growth. Integrating the BoP can play an important role in bolstering business when included in company value chains as suppliers, distributors, retailers, consumers, and employees. In addition to company growth, inclusive business presents an opportunity to break the cycle of poverty for billions by contributing to higher incomes; affordable, accessible and adequate products and services; and sustainable livelihoods.
This year, we partnered with GlobeScan to take the pulse on the state of Inclusive Business, surveying 193 inclusive business actors, including mostly companies, and other stakeholders such as government, multilateral organisations, NGOs, academics, think tanks and investors. The following statistics for overall responses are based on the feedback of all 193 participants, while company-specific statistics are based on feedback from 91 companies. View the full findings here.
For the key findings and full report click here