Building Markets bridges gap for small businesses in fragile economies

By Ahmet Taş | Wise News Press

BROOKLYN, NEW YORK — Building Markets is revolutionizing economic resilience for 3.4 billion people globally by connecting local small-to-medium enterprises (SMEs) with global buyers to foster dignified jobs and shared prosperity in economically fragile regions.

The organization operates on the principle that a quality job and steady income are the primary bridges between survival and thriving for families in crisis. According to Radha Rajkotia, Chair of the Building Markets Global Board of Directors, the non-profit's unique approach breaks down barriers between buyers and local suppliers, meeting the needs of the future by integrating underutilized businesses into the global marketplace.

A strategic four-pillar approach: Find, Build, Connect, Grow

Building Markets utilizes a specialized methodology to empower small businesses and enhance market efficiency in areas where it is needed most. The first phase focuses on developing market intelligence through deep-dive surveys and trusted relationships with local governments (Find), followed by building the digital and commercial capacities of SMEs via specialized training and mentorship (Build).

In the third phase, the organization increases market efficiency by facilitating access to tender distribution, matchmaking services, and working capital (Connect). Finally, Building Markets engages with regional and national stakeholders to advocate for the full integration of small businesses into the formal economy (Grow).

Rebuilding livelihoods in earthquake-affected Turkiye

The organization maintains a significant focus on Turkiye, particularly in regions devastated by recent earthquakes. By collaborating with partners like Islamic Relief USA, Building Markets is actively supporting women entrepreneurs and small business owners in Gaziantep and surrounding provinces to rebuild their futures.

Furthermore, the organization’s "Insights" series, such as reports on buyer perceptions of refugee-led SMEs and AI applications for small businesses, provides data-driven guidance for global stakeholders. By leveraging market forces, Building Markets ensures that resilient individuals in these networks are recognized not as passive recipients of aid, but as entrepreneurs with untapped potential capable of shaping their own futures.

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