For many MSMEs and social enterprises, access to funding remains a challenge as they work to grow. Yet funding is only one part of what entrepreneurs need to build sustainable businesses.
Practical business skills, suitable financing, and connections to relevant organisations can shape how entrepreneurs respond to challenges and opportunities in their markets.
These issues were at the centre of a panel discussion led by Sarita Kinanti, Program & Impact Director of KUMPUL Impact, at the AVPN Global Conference 2026 in New Delhi, India, on 25 August 2026.
Sarita moderated the panel, “Engines of Inclusion: MSMEs, Social Enterprises, and the Future of Growth”, which brought together perspectives from finance, government, and social entrepreneurship to discuss the future of inclusive growth in Asia.
Understanding the “Missing Middle” in Inclusive Growth
Sarita opened the discussion by introducing the idea of the “missing middle”.
The term refers to entrepreneurs and social enterprises that have moved beyond the earliest stages of development but still struggle to find support that fits their needs.
These businesses can fall between existing support systems. They may be too established for programmes designed for very early stage businesses, while still facing challenges when seeking traditional investment.
Drawing from KUMPUL Impact’s work in inclusive entrepreneurship, Sarita highlighted three areas that matter when supporting businesses at this stage:
- The right capital
Entrepreneurs need funding that matches the stage and financial needs of their businesses. - The right capabilities
Business owners need practical skills to manage their operations and make effective use of available resources. - The right ecosystem support
Connections with investors, government, businesses, and other organisations can help entrepreneurs access relevant resources and opportunities.
These three areas formed the basis for the panel’s discussion on how inclusive growth can reach entrepreneurs who remain underserved.
Financial Inclusion and Responsible Finance
The panel brought together four perspectives on inclusive growth:
• Sohil Shah, Chief Investment Officer, Gojo & Company Inc.
• Sarah Shaw, Chief Executive Officer, Majra
• Veronica Colondam, Founder and CEO, YCAB Foundation
• Sarita Kinanti, Program & Impact Director, KUMPUL Impact
The first part of the discussion focused on financial inclusion and access to capital.
Sohil Shah discussed how financial services can reach underserved entrepreneurs while managing the risk of over indebtedness. The conversation looked at how lenders can consider an entrepreneur’s financial situation when providing access to financing.
For MSMEs, access to finance therefore needs to be paired with responsible lending practices. Financing should take into account the ability of entrepreneurs to manage the funding they receive.
Supporting Entrepreneurs Beyond Funding
The discussion then moved towards the support entrepreneurs need alongside capital.
Sarah Shaw shared Majra’s perspective on bringing together government resources, private sector involvement, and community needs in the UAE.
Veronica Colondam brought the conversation closer to entrepreneurs and communities through her experience with YCAB Foundation.
Several areas emerged from the discussion as important for inclusive entrepreneurship:
• Finance: Access to funding that fits the entrepreneur and business.
• Capabilities: Skills and knowledge to manage and develop a business.
• Connections: Relationships with organisations that can provide relevant resources and opportunities.
These needs can vary depending on the business, community, and market.
Why Local Context Matters for Inclusive Growth
The panel also discussed the importance of local context when developing solutions for entrepreneurs.
Businesses operate within different economic conditions, regulations, communities, and financial systems. These factors can affect how entrepreneurship programmes, financial models, and other forms of support work in practice.
A solution developed for one market may therefore need to be adapted when applied elsewhere. Understanding local conditions helps organisations design support that responds to the needs of entrepreneurs in that specific market.
This perspective was particularly relevant to the discussion on inclusive growth across Asia, where countries have different economic structures and business environments.
Connecting Capital, Capabilities, and Ecosystem Support
The AVPN Global Conference 2026 discussion brought together perspectives from investors, government, and organisations working directly with entrepreneurs and communities.
Each group has a different role in supporting inclusive entrepreneurship. Investors provide capital, governments can create policies and programmes, while organisations working with communities can bring knowledge of local needs and challenges.
For KUMPUL Impact, the discussion connects with its work in inclusive entrepreneurship and ecosystem development. Bringing different actors together can help connect entrepreneurs with funding, knowledge, and networks that respond to their needs.
The conversation at AVPN Global Conference 2026 returned to a practical question: how can entrepreneurs in the “missing middle” access the support they need at their stage of development?
The panel highlighted three areas that need to work together: suitable capital, stronger capabilities, and support that reflects local needs. These considerations remain relevant for organisations working to advance inclusive growth across Asia.
For collaboration opportunities on AI ecosystem building, contact us at event@kumpul.id.
