POLICY DEVELOPMENT FOR INCLUSIVE BUSINESS
In the right ecosystem, inclusive businesses will thrive, spur inclusive growth and provide relevant solutions to low income people. Governments can encourage the emergence and expansion of inclusive business models by establishing conducive rules, providing relevant information and raising awareness, building the capacities of the BOP and businesses, and enhancing access to finance.
In South-East Asia, governments have started setting-up specific inclusive business promotion institutions, policies and programs to develop an enabling ecosystem for inclusive businesses. In the Philippines, since 2017, registered IB models in the agribusiness and tourism sector are eligible for tax incentives. Countries such as Myanmar, Cambodia, Viet Nam, and Malaysia are currently considering policies that support inclusive business, through one or several of the following action areas:
1. Fostering information and raising awareness about inclusive business
2. Coordinating action through IB focal points in government agencies and private sector associations
3. Creating registration or accreditation systems for inclusive business
4. Providing Technical Assistance (e.g. business coaching services) to help mainstream businesses develop inclusive business models
5. Exploring suitable incentives to stimulate the adoption and growth of IB models
Developing financial products for the needs of IBs and fostering investment linkages.
6. Exploring the potential for prioritizing accredited IB companies in public procurement.
7. Developing monitoring and reporting systems on the contributions of IBs to the SDGs.