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State of the Small & Growing Business Sector 2019

Posted By Laura Denick, Aspen Institute, Wednesday, August 5, 2020
Updated: Tuesday, August 4, 2020

State of the Small & Growing Business Sector 2019 

By Aspen Network of Development Entrepreneurs 

ANDE has been tracking the growth and impact of the small and growing business (SGB) sector in emerging market economies for our annual State of the Sector report since 2009. The analysis examines global trends in support for small and growing businesses through capacity development services, direct private investment, and donor funding, as well as specific trends by region.

The latest report provides a retrospective summary of key developments and trends in the sector in 2019 and relevant insights based on initial data and emerging information on the potential impact of the COVID-19 pandemic on those trends in 2020.


Selected insights from this year’s report:

  • In 2019, ANDE members continued to provide critical support for SGBs, building capacity for 190,000 SGBs around the world. Capacity development delivered by ANDE members in 2019 focused largely on business strategy and planning support and creating access to networks and partners for SGBs.
  • ANDE identified 85 new SGB-inclusive investment vehicles providing capital for SGBs in Africa, Latin America, and South and Southeast Asia, with median target assets under management (AUM) of $35 million and committed capital to date of at least $2.9 billion.
  • There were at least three major catalytic capital activities launched in 2019, with a combined funding pool of $329 million, representing a success for organizations that have been pushing for this type of blended approach The role of catalytic capital will only increase as private investors reconsider their own strategies and expectations in light of COVID-19 and its consequences.
  • A greater portion of enterprise support funds were directed towards Latin America and the Caribbean in 2019 than in previous years, and support fell slightly in the Middle East and North Africa, South Asia, and Europe and Central Asia.

Read the full report in English here

Read the full report in Spanish here

Read the full report in Portuguese here

Tags:  ANDE publication  entrepreneurship ecosystems  SGBs; small and growing businesses impact investin 

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