Stakeholders in the LGE sector

There are several types of stakeholders working in the LGE sector, some of whom perform multiple functions. For example, one organisation may provide grant or loan funding as well as capacity building for business support. 

LGEs are micro, small or medium sized enterprises (MSMEs) that have a potential positive effect on the global or local environment, community, society, or economy and are businesses that strive to meet triple-bottom line returns (economic, environmental and social). LGEs consist of informal and formal MSMEs and social enterprises that use green business models, develop green products or green their business practices. LGEs may be individual, small group or family-based, or collective.

LGEs may form themselves into networks which collaborate to achieve a common goal. For example, they may work together on joint marketing or peer learning and support. Cooperatives are a particular type of collaborative organisation owned and run jointly by their members, who share the profits or benefits.

Traditional financial institutions include banks and credit unions which provide financing in the form of loans and other financial products. Others are micro-credit facilities which offer loans, grants, and other financial products to aid MSMEs. Financial institutions may also incorporate angel investors, private equity platforms and venture capital funds.

Grant funding for LGEs is provided by a wide range of types of sources, including individual philanthropists, private sector corporate social responsibility funds, government or inter-governmental grant programmes, to grants issued through or by non-profit organisations.

Business support services include mentoring, entrepreneurial training, and business advisory. They may be administered by the implementation arms of some government ministries and non-profit organisations supporting LGEs as part of poverty/economic development programmes.

Some organisations focus on providing a market space for LGEs. This can be a physical market or online platform, which may be generally supporting MSMEs or focused on promoting green and social enterprises.

Government agencies and ministries have a responsibility to create policy to support or regulate LGEs. Key sectoral areas include environment, agriculture, tourism, fisheries, land use and planning and micro enterprise development.

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Photo Credit: CANARI