What SMEs Need to Know About Child Labor in Turkey

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Globally, around 168 million children aged 5-14 work, preventing them from attending school and making it harder for them to achieve their full potential. Conflicts and crises often force more children into the labor market and put them at higher risk of exploitation. As the backbone of every economy, small and medium-sized enterprises (SMEs) play a critical role in the fight to eliminate child labor. In Turkey, Building Markets’ Sustainable Marketplace project supports SMEs working in the formal economy, …

Syrian-owned SMEs Advance Sustainable Development Goals in Turkey

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Building Markets’ network of over 2,000 small and medium-sized enterprises (SMEs) in Turkey presents an opportunity to make significant contributions to the country’s Sustainable Development Goals (SDGs). In addition to being the main driver of job creation in economies around the world, SMEs advance progress towards the SDGs through their business practices; sectors of operation; and contributions to improving national competitiveness, according the International Trade Center (ITC). ITC’s analysis shows that “investments in SMEs can contribute to 60% of the 169 SDG targets.” Despite this enormous potential, …

Small Businesses Change the World

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These days, everyone seems to find a way of squeezing words into awkward acronyms. For example, consider: MSME. It doesn’t just slide off the tongue, does it? But, it does make the world a much better, more equitable, and prosperous place. MSMEs are all around you; these are the small businesses that grow our food, build our roads, sell us our clothes, develop your favorite app that you can’t live without, …

Buying from Women: A Powerful Tool for Gender Equality and More

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Women entrepreneurs everywhere—in frontier markets and advanced economies alike—who need business opportunities benefit from this growing corporate trend: supplier diversity. This is good news, especially now, as inclusion of women-owned businesses is essential to equitable economic recovery following the COVID-19 pandemic. Women’s economic empowerment, from their participation in employment to business ownership, is fundamental to achieving gender equality and many of the other Sustainable Development Goals. The corporate sector has both a responsibility and business case for empowering women. …

New Report: Women’s Entrepreneurship in Syrian-Owned Businesses in Turkey

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Eliminating poverty, improving household incomes, and supporting the growth of national economies can be achieved with the full economic participation of both women and men. Women account for 47% of the global labor force participation rate, however nearly one billion women continue to face constraints in realizing their full economic potential. Of these, 812 million live in developing countries. Supporting female entrepreneurs, particularly in high-growth sectors, has the potential to create jobs, …

The Road Back from COVID-19 will be Paved by Small Businesses around the World

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From trade to production to investment to employment, every aspect of the global economy has been negatively impacted by COVID-19. As a result, the OECD forecasts that global economic activity will fall by 6 to 7.6% in 2020 depending on whether or not a second wave hits. Alongside this, the ILO reports an astonishing 305 million full-time jobs will be lost in the 2nd quarter of this year, and 38% of the world’s workforce – some 1.25 billion workers – are employed in sectors that are deemed high-risk. …

Managing a Global Team through a Global Crisis

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We, like many of you, are working hard to continue operations and keep our people safe in the midst of the coronavirus pandemic. An added challenge for us is that our team is spread out around the world, and our headquarters sits right in the middle of the current epicenter. To prepare and respond to the evolving crisis, our offices in New York City, Myanmar, and Turkey started moving to teleworking on March 12th and fully transitioned on March 18th, …

Our Thanks, Our Impact, and a Request

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Since 2006, Building Markets has worked with 25,000 small businesses in crisis-affected parts of the world, and helped them create over 70,000 full-time equivalent jobs. Those jobs alleviate poverty, boost individual dignity, reduce dependence on aid, and help sustain peace. You can learn more about our results and how we achieve them by clicking here. Our work would not be possible without support from individuals, governments, and foundations who understand and rely on our effectiveness in creating employment and economic growth. …

An Overview of Myanmar's Recycling Industry: A Report by Building Markets

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For years, a huge part of the world was exporting their recyclable materials, such as plastics, glass, and paper, to China for recycling. Unaware of where these materials ended up, many assumed that eventually, they were recycled and re-made into new materials, supporting a circular economy and preventing landfills from growing. However, much of the world’s recyclable material is considered “contaminated”, whether by dirt and food or by being mixed with materials that are not recyclable. …

Syrian-owned Businesses Draw Foreign Investment and Create Jobs in Turkey: The Story of Wolves Interactive

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In 2018, more than 70 million people were forcibly displaced worldwide with Turkey maintaining the top spot as largest country host with 3.7 million Syrians. This comes with enormous strains on a host economy’s market and resources – but also presents a unique opportunity as refugees bring with them skills, resourcefulness, ingenuity, and a desire for a better life. Harnessing these characteristics and providing pathways for refugees to unleash their talents can be a win-win by offsetting the cost of a crisis, …

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