In recognition of the pivotal contributions made by partners in promoting economic advancement, a series of interviews were conducted with recipients of the Nasdaq Foundation’s quarterly grants. This series included a conversation with Elizabeth Brown, Head of Partnerships at Building Markets, regarding their mission to enhance economic opportunities for small and emerging businesses, fostering job creation and resilience within economically vulnerable communities.
Building Markets focuses on reducing growth barriers for small, local businesses by facilitating connections with new buyers, capital, and networks. This support helps businesses secure contracts, create jobs, and strengthen local economies. To date, Building Markets has facilitated over $1.5 billion in revenue and the creation of 75,000 jobs across nine countries.
An illustrative example of Building Markets’ impact involves Constanza, a Colombian entrepreneur who, after fleeing her hometown due to armed conflict, launched “Miel de Caña,” a natural panela syrup. Initially struggling with expansion needs such as connections and buyer relationships, Constanza benefited from Building Markets’ support. By participating in the Buma Academy, she acquired essential management skills and gained access to corporate buyers. This led to a 30% increase in sales, and she now employs seven women, providing them with sustainable livelihoods. For Constanza, her business’s success represents not just economic prosperity, but also an enduring family legacy of hope and opportunity.
The Sabias, Empresarias, Resilientes (SER) program, undertaken by Building Markets, addresses gaps faced by women entrepreneurs, particularly in digital presence and brand identity. Backed by the Nasdaq Foundation’s Quarterly Grant, SER aims to enhance online visibility and offer one-on-one technical guidance in brand positioning and sales. The program also provides a toolkit for brand assessment and content planning. Through this grant, SER will expand, equipping women entrepreneurs with resources for sustainable growth, and promoting inclusive economic progress, thereby benefitting women-led businesses and their communities.
Looking ahead to 2025, Building Markets intends to bolster its existing regional presence and extend its impact to new, underserved locations. A significant focus will be the development and testing of AI-driven tools to increase visibility for small, diverse suppliers globally. This will streamline matchmaking processes and enable local businesses to secure revenue and generate essential jobs. Additionally, a working capital fund will be piloted to support entrepreneurs who lack access to traditional growth financing channels.
In Colombia, Building Markets plans to expand the SER program further in 2025, continuing to tackle the root causes of economic exclusion for marginalized communities’ small businesses. By providing resources to improve visibility and credibility, SER aims to help women-led enterprises gain economic opportunities, build buyer confidence, and increase revenue and job creation. These efforts contribute to building more cohesive, secure, and sustainable communities. Through these initiatives, Building Markets is set to accelerate its impact, ensuring that small enterprises receive the support necessary for long-term success and scalability.
