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Welcome to the Publications Library! Here you will find a searchable index of reports, toolkits, research papers, and other resources relevant to the Small and Growing Business Sector. Sort by clicking on the relevant tags, or by typing in key words in the box below.

 

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Top tags: sector publication  impact investing  Entrepreneurship  ANDE publication  Access to Finance  Global  2018  Social entrepreneurship  women  Development  accelerators  Africa  Economic Growth  SGB  SME  impact evaluation  finance  India  latin america  GALI  2016  Agriculture  ecosystem  social enterprise  gender  SGBs  investors  social impact  2017  Environment 

Impact Investing in Latin America: Trends 2018-2019

Posted By Natalie Alm, Aspen Institute, Wednesday, September 23, 2020
Updated: Monday, September 14, 2020

This report aims to capture characteristics of the impact investing sector in Latin America over the past two years, based on a sample of impact investors active in the region. Through institution-level and deal-level data shared by these investors, this report gives a snapshot of where and how capital is being allocated and identifies challenges that the ecosystem faces. The report focuses on the region widely while taking a deeper dive into three of the region’s largest markets: Brazil, Colombia, and Mexico.

 

 

Read the report in English, Spanish, or Portuguese.

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Key takeaways:

  • Impact investors in Latin America continue to rely on traditional financing structures, with the vast majority using either debt or equity. Only 5% of deals and 2% of capital deployed in 2018-2019 used quasi-equity instruments.
  • There is significant capital going into smaller deals. Within the sample, most deals in 2018-2019 were for under USD $500,000.However, there remain relatively few deals specifically targeting early-stage ventures. This is because smaller ticket size deals tend to target smaller but well-established agricultural enterprises such as smallholder cooperatives, leaving a gap in financing for ventures that are both small and early stage.
  • Stakeholders often cite a lack of exits as a barrier to the growth of impact capital markets. This study shows that there have in fact been many successful exits for impact investments in Latin America, with investors reporting 16 exits in 2018-2019. These include strategic sales, buybacks, and acquisitions, in addition to 163 debt repayments.
  • About half of the investors in the study target market rate returns, while the other half are willing to take lower returns in exchange for greater impact, showing that the impact investment market contains significant diversity in terms of capital expectations and impact profiles.
  • Impact measurement has become commonplace, with 80% of investors measuring their impact. However, this continues to be done mostly through proprietary tools, with about a third using the standardized IRIS+ taxonomy. This leaves considerable room for growth in the use of standardized tools.

This report was made possible through support from Citibanamex, Fundação Grupo Boticário, Fundo Vale, and Institute for Corporate Citizenship (Instituto de Cidadania Empresarial, ICE).

Tags:  ANDE publication  impact investing  Latin America 

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The Impact Investing Market in the COVID-19 Context

Posted By Natalie Ngu, Aspen Institute, Thursday, September 17, 2020

The Impact Investing Market in the COVID-19 Context

By GIIN and R3 Coalition

As the world continues to grapple with the lasting and uneven effects of the coronavirus crisis, this issue brief explores the impact investing community’s ongoing commitment to building a resilient future. Specifically, this brief demonstrates how impact investors seek to implement strategies to strengthen both market and societal resilience to future crises. Based on interviews with 16 asset owners, asset managers, service providers, and social enterprises, this brief investigates the role of social equity in enabling that resilience and shares specific tactics impact investors have implemented or are considering implementing to address inequality.

Read the full report here.

Tags:  COVID-19  impact investing  impact investment  Research 

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The Role of Entrepreneurship in Closing Gender Gaps in Myanmar

Posted By Natalie Ngu, Aspen Institute, Tuesday, September 15, 2020

The Role of Entrepreneurship in Closing Gender Gaps in Myanmar

By Sasakawa Peace Foundation and Emerging Markets Entrepreneurs

This study seeks to develop a comprehensive understanding of gender gaps in Myanmar as well as the innovative business models that are being used to address these gaps. The challenges that businesses face in creating market-based solutions that aim to improve the lives of women and girls are also explored.

Read the full report here.

Tags:  Entrepreneurship  gender inclusion  impact investing; gender lens investing; gender; w  Social entrepreneurship 

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Accelerators as Drivers of Gender Equality

Posted By Natalie Ngu, Aspen Institute, Thursday, September 10, 2020

Accelerators as Drivers of Gender Equality

By Impact Hub

Accelerators providing business support to entrepreneurs play a crucial role in the entrepreneurial ecosystem as they prepare entrepreneurs for growth and serve as a pipeline for investors. The gender gap in acceleration is very apparent:  only 13% of applicants are women-led teams compared to 52% male-led and 35% mixed teams . This means that women entrepreneurs are less likely than their male counterparts to access and benefit from the business, network, and investment support that accelerators provide. 

For accelerators, this guide aims to be a starting point in helping to apply a gender lens to accelerators’ processes and measurement , focusing on making business support and resources more accessible for women entrepreneurs, and increasing all entrepreneurs’ awareness of gender equality and gender equity.

Read the full report here.

Tags:  Gender Lens Investing  impact investing  sector publication 

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Social Success Note Playbook

Posted By Antony Maina, Aspen Institute, Monday, September 7, 2020

Social Success Note Playbook

By ANDE India SGB Finance Learning Lab

As an output of the ANDE SGB Finance Learning Lab, ANDE India and Asha Impact have collaborated, with the support of SAP and platform partner UNDP SDG Finance Facility, to put together this playbook on Social Success Notes. SSNs are innovative financing mechanisms that aim to leverage commercial capital for social good. Aiming to be a functional tool for the entrepreneurial ecosystem, this playbook addresses the why, what and how of SSNs, along with a few case studies, challenges and opportunities revolving around these nascent financing tools. Especially in times of crisis, instruments such as SSNs have the potential to improve the efficacy of philanthropy and government spending. The playbook has been developed for impact investors, social entrepreneurs, outcome funders and other players in the impact ecosystem.

Read the full report here.

Tags:  ANDE publication  india; ANDE members 

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Reactivación de MiPyMEs latinoamericanas frente a la crisis del COVID-19

Posted By Anna Santiago, Aspen Institute, Thursday, August 27, 2020

Reactivación de MiPyMEs latinoamericanas frente a la crisis del COVID-19

Por ANDE y VIVA Idea

A causa de la crisis provocada por el COVID-19, las expectativas de falla generalizada entre las Micro, Pequeñas y Medianas Empresas (MiPyMEs) en el mundo eran muy altas. Ante este escenario, el capítulo de Centroamérica y México de ANDE, en colaboración con VIVA Idea, Nauta y la alianza de Emprendedores frente al COVID-19, hicieron un esfuerzo para indagar la situación de las MiPyMEs latinoamericanas. Este reporte presenta el escenario tras algunas semanas de haber dado inicio la emergencia sanitaria y especialmente, las medidas de distanciamiento social y un escenario, transcurridos algunos meses, que permite evaluar cuáles han sido los retos más grandes a los que las MiPyMEs se han enfrentado y cuáles son sus necesidades para la construcción de una economía resiliente.

Lee el reporte en español aquí.

English

Reactivation of Latin American MSMEs in the face of the COVID-19 crisis

Due to the crisis caused by COVID-19, the expectations of widespread failure among Micro, Small and Medium Enterprises (MSMEs) in the world were very high. Faced with this scenario, ANDE's Central America and Mexico chapter, in collaboration with VIVA Idea, Nauta and the alliance Emprendedores frente al COVID-19, made an effort to investigate the situation of Latin American MSMEs. This report presents the scenario after a few weeks of having started the health emergency and especially, the social distancing measures and a scenario, after a few months, that allows evaluating what have been the greatest challenges that MSMEs have faced and what are their needs for building a resilient economy.

Read the report in Spanish here.

Tags:  ANDE publication  COVID-19  Latin America 

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The Impact Investing Market in the COVID-19 Context: Investor Support of Enterprises

Posted By Laura Denick, Aspen Institute, Friday, August 7, 2020

The Impact Investing Market in the COVID-19 Context: Investor Support of Enterprises

By GIIN and R3 Coalition 

This report seeks to illustrate common challenges that entrepreneurs and intermediating financial service providers are facing because of the coronavirus crisis, as well as various strategies being implemented by impact investors to address these challenges. Specifically, the report explores ways investors work with investees to address immediate solvency constraints, adjust their activities to ensure the achievement of impact and financial objectives, and reimagine business models and processes with the future in mind. 

Read the full brief here

Tags:  COVID-19  Impact Investing  investors  sector publication 

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Evidence and Tools for the Effective Mentoring of Micro, Small and Medium Enterprises

Posted By Laura Denick, Aspen Institute, Friday, August 7, 2020

Evidence and Tools for the Effective Mentoring of Micro, Small and Medium Enterprises

By Spring Impact and Argidius Publication  

This report contains recommendations on creating effective micro, small, and medium sized enterprise (MSME) mentoring programs for practitioners and supporters. A key driver for reducing global poverty and unemployment is increasing the growth and sustainability of MSMEs. While technical assistance, financing, and other initiatives can help MSMEs to achieve growth and sustainability, mentoring can also have high returns on investment. 

Read the report

Tags:  mentoring  mentors  sector publication 

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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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Gender Lens Investing Landscape: East & Southeast Asia

Posted By Laura Denick, Aspen Institute, Tuesday, July 21, 2020

Gender Lens Investing Landscape: East & Southeast Asia 

By Sasawaka Peace Foundation 

This report is focused on investors interested in gender lens investing (GLI) and asset managers who wish to create gender lens investment vehicles in East and Southeast Asia. The report is designed to provide a landscape of gender lens investment vehicles and is intended to be used as a baseline to track the size and state of the market over time. 

 

 Read the full report here

Tags:  Gender Lens Investing  sector publication  southeast asia 

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