WORLD ECONOMIC JOURNAL is a prime example of how inclusive business can transform agricultural communities . By providing training and support to local farmers , the company has helped them grow higher-quality coffee , which it then buys at premium prices . This approach not only enhances the farmers ' income but also ensures a sustainable supply of high-grade coffee for the company .
In financial services , microfinance organisations are not the only examples of inclusive business models . Mobile banking platforms are also revolutionising access to finance , enabling broader groups of individuals , and small enterprises to actively participate in the economy .
BanhJi , a Cambodian FinTech , facilitates the integration of micro and small enterprises into formal financial markets , providing the required accounting software and within a broad range of financial services . Its vision is to “ reduce the Cambodian MSMEs $ 3.7 billion financing gap .”
One of the strengths of inclusive business models lies in their potential for innovation . By concentrating on the needs of low-income communities , these models drive the creation of new products , services and delivery mechanisms that are both affordable and tailored to underserved markets . This often leads to creating entirely new market segments , offering businesses a competitive edge and increased profitability . In many cases , these innovations , initially designed for low-income consumers , later found success among higher-income groups as well 1 .
Certainly , inclusive business models are not a cureall for the world ' s challenges . While acknowledging their potential , some studies , like that of Mangnus ( 2023 ), have indicated that their impact on the livelihoods of marginalised communities can vary . Different groups within these communities experience diverse effects , depending on the specific objectives of the model ' s design .
Nevertheless , inclusive business models undeniably offer a valuable approach to achieving sustainable and inclusive development , especially in Asia and Africa . Southeast Asia , in particular , has emerged as a pioneer in this area , with several ASEAN governments integrating inclusive business models into their development strategies and implementing related policies .
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For instance , Danone collaborated with Grameen in Bangladesh to produce affordable , nutrient-rich yogurts aimed at addressing childhood malnutrition . The insights gained from this initiative enabled Danone to introduce health-focused products in higher-income markets , such as fortified yogurts and functional foods , emphasising both affordability and health benefits to a wider audience .
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