David Bank’s article in ImpactAlpha (COVID response spawns network to support Latin American entrepreneurs) gives some brief information on the support network that exists for Latin American entrepreneurs during the COVID-19 pandemic, expressing that more than 50 organisations are in the process of working to share the load in supporting their entrepreneurs. This sets an example for how an ecosystem and network of organisations can be responsible for combatting a flawed system and can be responsible for supporting small business.
Especially in these trying times, it is important to think about the relationship our economy has with small business and entrepreneurial endeavours as they are a large part of what keeps the whole system running.
Whether that system is weak or strong depends on the support networks we create in the event of inevitable collapse. For example, even in Australia over the last 10 months I have witnessed multiple beloved Mom-and-Pop businesses fail due to the lack of support in a period where no-one was able to contribute to their shops, cafés or restaurants due to COVID related isolation or social distancing.
In emerging markets, we represent impact managers across the range of asset classes, including Quona Capital, Sarona, Elevar Equity, Microvest, WaterEquity, and Finance in Motion, all of which are seasoned investors into emerging markets, where one of the core UNSGD focus is around ‘Decent Work and Economic Growth’. Happy to provide detail on our managers to institutional investors helping to illustrate how they also form part of the wider support network for small businesses and entrepreneurs in emerging markets.
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