The right match to drive inclusive recovery

Stuart Thomson and Peter McMullin from Good Business Foundation with Professor Gillian Triggs, former President of the Australian Human Rights Commission at the UNHCR in Geneva

Good Return and The Good Business Foundation announce a three year partnership to reduce inequality, by investing in an inclusive recovery across the Asia Pacific. 

As the effects of the Covid-19 pandemic continue to be felt across the globe, it’s evident that while all of us may be in the same sea, we are not in the same boat. Recent Oxfam modelling has found that the impact of Covid-19 “has the potential to lead to an increase in inequality in almost every country at once, the first time this has happened since records began’.

For low income countries - which include many of our closest regional neighbours - the pandemic has jeopardised hard-won gains in the fight against poverty.  Limited access to resources and markets, climate change stressors and fragile economic systems make these countries especially vulnerable to the economic effects of the pandemic.  In order to support our neighbours across the Asia-Pacific, it will be critical to foster an inclusive economic recovery. 

To support this work, Good Return and the Good Business Foundation (GBF) are proud to announce a three-year partnership to enable those living in poverty to achieve economic empowerment through responsible financial inclusion and capability development.   

Driven by common values, the partnership is ambitious but is focused on areas where we can leverage our expertise and make the biggest impact - the Small to Medium Enterprise (SME) sector in developing markets of the Asia-Pacific. 

The SME sector will play a vital role in a fair and equitable recovery by providing jobs and income to local communities. It also has huge potential for growth.  

However, in low income countries across the Asia-Pacific, there is a significant financing gap for the SME sector, often referred to as the ‘missing middle’.  

The aim of the partnership is to build the capacity and investor readiness of these SMEs and to increase access to responsible local and impact investment funds. This would result in enterprise growth, increased income, more jobs, and access to value chains. 

The partnership will have a strategic focus on supporting traditionally underserved businesses such as women-led SMEs. When women are economically empowered, they not only lift themselves but also their families and communities out of poverty.  This results in inclusive economic development while reducing inequality within communities.

GBF Executive Director Stuart Thomson says that Good Return is a critical partner in this work.

“We realised early on that Good Return and the GBF shared similar values in addressing inequality through economic development in some of the most challenging contexts in our region. Their strong networks and commitment of working in, and with community, made them an ideal partner for the GBF.”

CEO of Good Return, Shane Nichols believes the partnership will complement and support this important work. 

“At Good Return, we know first-hand that investing in women-led small enterprises is a key lever to unlocking opportunity, breaking the cycle of poverty and supporting inclusive economic growth. Last year we established our first Impact Fund to help SMEs access much needed capital. We are delighted to be partnering with The Good Business Foundation as an early investor in the fund and key collaborator in support of the economic recovery of our Asia-Pacific neighbours.”