About this topic
To build an inclusive economy that promotes fair incomes and economic mobility, it’s essential to support a thriving small enterprise sector.
Small enterprises account for 90% percent of the world’s businesses, and formal small enterprises contribute up to 40% of GDP in emerging economies. Millions of informal enterprises, smallholder farmers, gig workers, and self-employed individuals underpin global economies. Collectively, small enterprises form the backbone of every economy, providing livelihoods relied upon by households and individuals worldwide.
Digital transformation is reshaping opportunities for small businesses, micro-enterprises, and the self-employed. Innovations like mobile phones and mobile money laid the groundwork, which is now complemented by online marketplaces and digital platforms. Digital tools for small enterprises span the entire value chain: marketing, sales, inventory management, production, payroll, credit and financing, delivery logistics, and after-sales support. Further, capacity building delivered through digital channels is enabling small businesses to enhance their resilience and to grow.
Caribou has extensive expertise in this sector:
- The Mastercard Strive program, in partnership with the Mastercard Center for Inclusive Growth, has reached nearly 13 million businesses with digital solutions and content that are supporting them in building resilient, growth-oriented businesses.
- We have studied gig work and micro-enterprise dynamics as part of the Platform Livelihoods Project for the Mastercard Foundation.
- We have explored women’s economic empowerment and entrepreneurship initiatives for the Gates Foundation.
