Inclusive Business: an opportunity that everyone benefits from!
Inclusive business models are a unique way of doing business, where all the parties involved win. For companies, inclusive business models are an opportunity for growth and a competitive advantage. For states, inclusive business embodies an effective approach to overall social and economic growth and development. And, finally, for the population, inclusive business models serve as a source of better life, social integration, employment and sustainable livelihoods.
What is required to make inclusive from ordinary business? One of the answers is the inclusion of vulnerable segments of the population in the value chain. Thus, the low-income population gets a chance to become part of the company, for example, as employees, suppliers of raw materials, distributors, retailers or service providers. Another option for creating an inclusive business involves the production of the necessary products, directly for people in need. For example, companies can focus on providing vulnerable and poor people with access to basic facilities and basic necessities, such as water, sanitation, shelter and health.
Inclusive business models allow all parties involved to gain mutual benefit. Such synergies between the public and private sectors and the population lead to a number of outcomes, such as sustainable solutions to problems, innovation, competitive advantage, better reputation, a solid market share and much more. That is why, it can be noted that inclusive business is a powerful tool for social and economic progress at the state level, while opening new amazing growth opportunities for entrepreneurs and corporations, and improving people's lives.
МCF Microinvest supports Inclusive Business and are already taking the first steps in building the inclusive business model by involving vulnerable low-income people!