Ecosystem builder’s dialogue: Navigating challenges and maximizing impact
East Africa Social Business Forum
This panel discussion highlighted the importance of growth that produces environmental and social benefits, particularly in addressing climate change. It emphasized the role of small and growing businesses in mitigating and adapting to climate change, with metrics being essential for measuring their impact. Support organizations, investors and entrepreneurs play a crucial role in assisting these businesses. Investment manager training, incorporating gender and climate land investing, are vital for sustainable economic growth.
Targeted support for small and growing businesses is crucial, as they offer a sustainable pathway to economic development and poverty alleviation. However, they face challenges such as accessing the right finance, knowledge and talent. The discussion emphasized the importance of shared learning through various channels and adopting a collective ecosystem approach to address systemic challenges. The session discussed strategies to maximize impact and drive economic growth in East Africa, focusing on collaboration, co-creation and joint programming.
As an entrepreneurial support organization (ESO), one should acknowledge challenges faced in supporting entrepreneurs, such as accessing capital, engaging entrepreneurs, partnering within the ecosystem, matching the right investors and being specific about services. Recommendations to address these challenges include strengthening partnerships, building investor networks, tailoring programs, enhancing communication and advocating for supportive policies. Also, help entrepreneurs to understand investors’ requirements, collaborate within the ecosystem, access information and resources and balance personal circumstances while starting a business.
In summary, the panel discussion underscored the importance of environmentally and socially beneficial growth, the role of small and growing businesses, the challenges they face and recommendations for supporting and empowering entrepreneurs in the East African context.