Tuesday, October 27, 2020 | ePaper

Inclusive business model needed to lift lower-income group

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Business Desk :
Development activists have emphasised the importance of an inclusive business model for the improvement of the health, food, nutrition, energy, water and sanitation services of the low-income group of people.
Defining inclusive business, Bijon Islam, co-founder and chief executive officer of LightCastle Partners, said this model generates a high development impact by improving access to goods and services for the base-of-the-pyramid population of low-income people.
This business model also provides income and employment opportunities to the low-income people as producers, suppliers, distributors, employers and employees, he added.
Bijon Islam made the comments in his keynote presentation at a seminar titled "Investment on Inclusive Business" on Wednesday in the city.
Supported by ICCO Corporation, SDG Wash and Gonoshasthaya Kendra, SNV Netherlands Development Organization in Bangladesh and Dutch-Bangla Chamber of Commerce and Industry (DBCCI) jointly organised the programme.  
Bijon Islam said many enterprises in Bangladesh want to connect deeply with their target community and solve social and environmental challenges through their business models, with a theory of change.
Citing a study of LightCastle Partners, he said respondents have identified the pandemic as an opportunity to launch new products and services that would help both themselves and their target markets.
Highlighting challenges, he said that there is a knowledge gap at the enterprises and investors' level.

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